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HomePoliticsNEWSJust In: Federal Government Recovers Over N120bn From Proceeds Of Crimes

Just In: Federal Government Recovers Over N120bn From Proceeds Of Crimes

The Federal Government says it has gathered N120 billion from its anti-corruption campaign months after President Buhari signed the Proceeds of Crime (Recovery and Management) Act (POCA) into law.

The Minister of Information and Culture, Lai Mohammed said this while speaking at the eighth edition of the President Muhammadu Buhari administration scorecard series (2015-2023) that the recovered funds would be deployed to complete ongoing capital projects across the country.

The Minister said, ”Please permit me to say categorically and without any fear of contradiction that the administration’s fight against corruption is very much on track.

As you may already know, Mr. President signed into law the Proceeds of Crime (Recovery and Management) Bill, 2022, on May 12, 2022. That bill was one of the three that Mr. President signed into law that day. Others are the Money Laundering (Prevention and Prohibition) Bill, 2022, and the Terrorism (Prevention and Prohibition) Bill, 2022.

I have an update on POCA. In line with the new law, I can confirm that so far, the Federal Government has realized over N120 billion, among other currencies, from POCA. This money will be used to fund the completion of ongoing critical infrastructure projects in the country like the Second Niger Bridge as well as the Lagos-Ibadan and Abuja-Kano Expressways. We will continue to update you on this.”

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Mary Ama
Mary Ama
A passionate writer with the sauce. I do that to get you entertained without a 404 page.
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