FG to Disclose Amount Recovered from Looters Soon

FG, States, LGs share N345.096bn for Feb
The Accountant General of the Federation, Ahmed Idris, on Tuesday asked Nigerians to exercise more patience in their quest to know the amount of money the federal government had so far recovered from treasury looters.

He stated that the litigation hurdles associated with the looted funds would have to be scaled before Nigerians are availed of the figures.

Idris, who was responding to questions at the monthly Federation Account Allocation Committee (FAAC) meeting in Abuja, said: “Yes, the federal government is making recoveries and relevant agencies are also making recoveries.

“When I say relevant agencies, we all know them. People who are alleged to have defrauded the nation or taken Nigerian money, they are under litigation…,” he said.
According to him, until the litigations and  court processes are over, it would be difficult to give out the figures of what is recovered.

He, therefore, urged Nigerians in order to be given the real figures of recovered funds.
Idris said Nigerians were right to ask for what is recovered while the government is desirous of giving out the required information, but must allow the legal process to to run its course.

Giving the details of  the February allocation, the Permanent Secretary, Federal Ministry of Finance, Dr. Mahmud Isa-Dutse, said the gross statutory revenue of N270.499 billion received for the month was lower than the N290.961 billion received in the previous month by N20.462 billion.

He said the distributable statutory revenue was N270.499 billion, adding that the sum of N6.330 billion was refunded b the NNPC to the federal government.

“Also, there is an exchange gain of N3.485 billion which is proposed. The total distributable for the current month, including CAT is N345.085 billion,” he said.

The federal government got N127.2 billion, stares N64.518 billion and local governments N49.7 billion while 13 per cent Derivation is N22.78 billion.
AT is N64.781 billion while the Excess Crude Account (ECA) stands at $2.259 billion.