Information ministry will provide details of looted assets – Buhari

President Muhammadu Buhari has noted that some significant amount of assets have already been recovered from looters of public treasury, but said the Ministry of Information and Culture will make public the funds and assets recovered as well as provide periodic updates.

The President stated this on Sunday while making this year’s Democracy Day broadcast, cutting short the expectations of Nigerians who had been told that Buhari would make public the details of the money recovered from looters during his Democracy Day national address.

In the words of the President: “We are also engaged in making recoveries of stolen assets some of which are in different jurisdictions. The processes of recovery can be tedious and time consuming, but today I can confirm that thus far: significant amount of assets have been recovered.

“A considerable portion of these are at different stages of recovery. Full details of the status and categories of the assets will now be published by the Ministry of Information and updated periodically.”

Buhari assured that the recovered loots would be plough back into the national treasuries at the completion of forfeiture formalities.

“When forfeiture formalities are completed, these monies will be credited to the treasury and be openly and transparently used in funding developmental projects and the public will be informed,” he said.