The Nigerian government says it had realised at least N120 billion as proceeds from criminal financial operations since the Bill on Proceeds of Crime Recovery Management was signed into law earlier this year by President Muhammadu Buhari.
The Minister of Information, Alhaji Lai Mohammed, made the announcement at a news conference when the Minister of Environment presented the scorecard of the ministry under the Buhari administration in Abuja on Wednesday.
He explained that the recoveries were made as a result of the implementation of the Proceeds of Crime (Recovery and Management) Act, 2022. He added that the implementation of POCA has necessitated relevant agencies to open, ‘A confiscated and Forfeiture Properties Account with the Central Bank of Nigeria to ensure transparency.
He disclosed that the proceeds are used to facilitate the completion of the 2nd Niger Bridge, Lagos-Ibadan and Abuja-Kano expressways. “I can confirm that so far, the Federal Government has realised over N120bn, 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 and the Lagos-Ibadan and Abuja-Kano expressways. We will continue to update you on this,” he said.
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