What FG should use $311m Abacha loot for by Ex-CBN Director

Sango-Ota – Dr Titus Okunrounmu, a former Director of Central Bank of Nigeria (CBN), has urged the Federal Government to invest the recovered 311 million dollars Abacha loot in building critical infrastructure in Nigeria.

Okunrounmu, who was Director, Budgetary Department of CBN said this in an interview with the News Agency of Nigeria (NAN) in Ota, on Tuesday.

He said that spending the money wisely will encourage the international community to assist the federal government in recovering more looted funds.

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Okunrounmu applauded the President Muhammadu Buhari’s administration for recovering the money which past administrations were not able to recover.

He also urged federal government to spend the money transparently so that Nigerians would know what it was used for.

“Whatever the money is being spent on, should be made clear to the public.

“Spending the 311 million dollars wisely will encourage the international community to assist the federal government to recover more looted funds,” he said.

Okunrounmu said the federal government should allow the money to go through the normal budgetary process so as to enhance accountability.(NAN)