The profits of crime that were seized from various people have so far brought in roughly N120 billion as well as money in other international currencies.
At the eighth installment of the President Muhammadu Buhari Administration Scorecard Series on Wednesday in Abuja, the Minister of Information and Culture, Lai Mohammed, provided this update.
Mohammed Hassan, the environment minister, was a featured guest on the episode and he highlighted the administration’s major environmental accomplishments.
The Proceeds of Crime (Recovery and Management) Bill, 2022, was signed into law by the President on May 12th, 2022, according to the Information Minister, and the recovery followed.
According to him, the money will be used to fund some critical ongoing projects.
He also announced that all relevant agencies of government have now opened a “Confiscated and Forfeiture Properties Account” with the Central Bank of Nigeria (CBN).
The government’s spokesman said: “Before I invite the Honourable Minister of Environment to the podium, 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 12th, 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 the Proceeds of Crime (Recovery and Management) Act (POCA), 2022. In line with the new law, all relevant agencies of government have now opened ‘A confiscated and Forfeiture Properties Account with the Central Bank of Nigeria (CBN).
“I can confirm that so far, the Federal Government has realized over 120 billion Naira, 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 Lagos-Ibadan and Abuja-Kano Expressways. We will continue to update you on this