{"id":80927,"date":"2021-05-19T16:00:04","date_gmt":"2021-05-19T15:00:04","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=80927"},"modified":"2021-05-19T17:00:05","modified_gmt":"2021-05-19T16:00:05","slug":"700m-looted-funds-returned-in-4-yrs-malami","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/700m-looted-funds-returned-in-4-yrs-malami\/","title":{"rendered":"$700m looted funds returned in 4 yrs–Malami"},"content":{"rendered":"
The Federal Government recovered\u00a0 $700 million looted funds in the last four years, even as it just received the \u00a34.2 million taken from Delta State\u2019s treasury by an ex-governor of the state from the United Kingdom.<\/div>\n
<\/div>\n
The Attorney-General and Minister of Justice, Abubakar Malami, who disclosed this during a virtual international conference on Illicit Financial Flows, IFF, yesterday, said:\u00a0 \u201cNigeria, through proactive and collaborative efforts with other countries, has recovered and ensured the return of over $700 million from the US, the UK, Bailiwick of Jersey, Switzerland, and Ireland in the past four years.<\/div>\n
<\/div>\n
\n“We are still working with our international partners and other countries to ensure that all Nigeria\u2019s assets that are identified are recovered.\u201d<\/div>\n
<\/div>\n
The minister said the government was using different mechanisms, including a voluntary asset declaration process approved by President Buhari in Executive Order 008.<\/div>\n
<\/div>\n
\u00a0\u201cIn this way, we believe that if Nigerians or Nigerian entities come forward to declare their assets wherever located, the government will apply a levy against those assets and also bring the assets within the tax regime.<\/div>\n
<\/div>\n
\u201cWe are also considering different ways to apply non-conviction based procedures in asset recovery to make it less cumbersome and reduce the time spent in court,\u201d he added. Malami also said the government of the United Kingdom had repatriated to Nigeria the sum of \u00a34.2million looted by associates and family members of a convicted former governor of Delta State.<\/div>\n","protected":false},"excerpt":{"rendered":"

The Federal Government recovered\u00a0 $700 million looted funds in the last four years, even as it just received the \u00a34.2 million taken from Delta State\u2019s treasury by an ex-governor of…<\/p>\n","protected":false},"author":1,"featured_media":80928,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-80927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\n$700m looted funds returned in 4 yrs-Malami - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/700m-looted-funds-returned-in-4-yrs-malami\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$700m looted funds returned in 4 yrs-Malami - 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