N289b Looted Funds Included In 2017 Budget – FG
President Muhammadu Buhari[/caption]
A total of N288.6 billion looted funds have been recovered by the Federal Government so far, the Director-General of Budget Office, Ben Akabueze said, Monday.
Akabueze, who disclosed this during the public presentation of the 2017 budget proposals at the Old Banquet Hall of the Aso Rock Presidential Villa, further stated that the funds have been captured in the budget presented to the National Assembly by President Muhammadu Buhari last Wednesday.
Akabueze said: “A total of N288.6 billion. This includes N97.6 billion which is equivalent of $220 dollars expected from Switzerland, part of what is called Abacha loot recovery.
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“Then it also includes N72 billion that has already been received in recent cases of loot recovery.
“And a balance of N90 billion other expected recoveries that are at an advanced and reasonable stage that we feel comfortable and confident that they would come through in 2017. So they have been reflected in the budget.”
Meanwhile, the Minister of Budget and National Planning, Udoma Udo Udoma, has dispelled worry over the non-approval of the Medium Term Expenditure Framework, (MTEF) presented to the National Assembly last month.
The minister said the lawmakers had the updated 2017-2019 Medium Term Expenditure Framework (MTEF), and they will work on them in their own pace.
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“With respect to the question about the MTEF, the National Assembly has the MTEF which has been updated. And they have the budget, so everything is with them.
“So, they will determine how they treat it. I am sure the sequence will be they do the MTEF before they do the budget. But everything is with the National Assembly,” Udoma said.
