In a statement by the Minister of Information, Culture and Tourism, Mr. Lai Mohammed, the government said the recoveries were made between May 29, 2015 and May 25, 2016.
The government gave the breakdown of the loot as N78,325,354,631.82; $185,119,584.61; £3,508,355.46 and €11, 250.
A conversion of the funds using the official exchange rate of the Central Bank of Nigeria, showed that the amount adds up to N115,792,760,499.
The statement read in part, “The Federal Government made cash recoveries totalling N78,325,354,631.82; $185,119,584.61; £3,508,355.46 and €11,250 from May 29, 2015 to May 25, 2016.”
The monies were said to have been recovered by the EFCC, the Office of the Attorney-General of the Federation, the Independent Corrupt Practices and Other Related Offences Commission and the DSS.
The Muhammadu Buhari-led government added that a separate amount of cash and assets worth over N1.9tn had also been seized. However, the properties and cash are under legal contention.
The assets and cash seized under interim forfeiture totalled $9bn; N126bn; £2.4m and €303,399.
A conversion of the worth of assets and cash seized based on the official CBN exchange rate totalled: N1,918,113,864,063.
It added, “Recoveries under Interim Forfeiture (cash and assets) during the period totalled N126,563,481,095.43; $9,090,243,920.15; £2,484,447.55 and €303,399.17.”
The government added that funds awaiting return from foreign jurisdictions totalled $321,316,726.1; £6,900,000 and €11,826.11.
The statement added that 239 non-cash recoveries such as farmlands, plots of land, uncompleted buildings, completed buildings, vehicles and maritime vessels were also seized during the period.
Meanwhile, the Socio-Economic Right Accountability Project on Saturday said the Buhari-led administration should expedite legal action against all looters in a bid to make their identities known.
The Executive Director of SERAP, Mr. Adetokunbo Mumuni, noted that the government should prosecute those who had been investigated and found to have looted the nation’s treasury, in order to avoid political witch-hunting.
He said, “Investigations should have been concluded now. You cannot say you recovered money and since then, you have not done any investigation, such that their (looters’) arraignment in court will then be delayed. I don’t think that would be justice.
“What the President should do is direct the Attorney General to hasten the process for the looters to be prosecuted. It is when we start seeing convictions from the court that we know that they’ve actually committed the offence; that is what the Nigerian constitution demands.”