Justice ministry recovers £6.3m, €5,49m, $390m looted funds abroad
By Andrew Orolua
The Attorney General of Federation and Minister of Justice Abubakar Malami, SAN, said on Thursday that the Ministry recovered a total sum of £6,324,627.66 from its international asset recovery drive so far.
Malami stated this in the Ministry of Justice scorecard of achievements. He said the recoveries were made between 2015 when Buhari administration came to power and January 12, 2023 and were in compliance with Presidential mandates and foreign judicial processes on international Asset recoveries.
He said that another total sums of €5,494,743.71 (Five Million, Four Hundred and Ninety-Four thousand, Seven Hundred and Forty-Three Euro, Seventy-One Cents); and $390,000,000 (Three Hundred and Ninety Million dollars) were recovered from various jurisdictions.
Malami said that “some of the recovered funds are being utilized in the financing of critical infrastructure including Abuja – Kano Expressway, Second Niger Bridge, and Lagos – Ibadan Expressway system for national development.”
The Attorney General of Federation and Minister of Justice also said that a total of 3,000 Terrorism cases have been profiled to date out of which over 1500 cases were prosecuted, with 397 convictions realised.
“A total of 7000 cases involving various offences including Maritime, Armed Robbery, Vandalization of Electrical Equipment and Pipelines, Financial matters, Cyber Crime, Kidnapping and Anti-corruption have been successfully prosecuted in the last seven and half years.
READ ALSO: Shehu Sani demands medical test for all presidential
According to him, these successes were achieved under the Asset Recovery and Management effort of Buhari Administration.
Malami said the Ministry of Justice had performed very well in revenue generation as well realising a total sum of N1, 823,788,146.86 from sale of forfeited Assets.
The Attorney General of Federation said that his office, President Buhari, other relevant stakeholders, including the legislature would be remembered favourably for the enactment of recently assented law, Proceeds of Crime (Recovery and Management) Act 2022 (POCA).
“I wish to state that POCA is the first legislation in Nigeria that comprehensively provides for mechanisms, processes and procedures for the tracing, restraint, seizure, confiscation, forfeiture and management of properties derived from unlawful activities, ” he pointed out.
He added that “its main objective is to take out the profits that incentivize and fund crime, with the ultimate aim of disrupting the cycle of crime and preventing future offences and corrupt practices.”
Malami said that the Ministry of Justice succeeded in saving the country from huge avoidable debt liabilities and had used a combination of effective defence strategies to cases, including arbitration and mediation, as well as prosecution of appeals .
He said that “a total of 648 (Six Hundred and Forty-Eight) cases instituted against the President, Federal Government and its Agencies, before States, Federal and ECOWAS Courts were served on the Ministry.”
These cases are at different stages of trial, adding that diligent defences of these cases in the year 2022 alone saved the government from huge judgment debt liabilities to the tune of N142, 458,343,888.52 and US$507,415,901.19.
These cases were handled by in-house State Counsel in the Ministry; and thus saved the country from further liabilities that would have accrued from payment of external solicitors’ fees.
