How FG Intend To Spend Repatriated $311 Million Abacha loot

How FG Intend To Spend Repatriated $311 Million Abacha loot
Follow Us On Social Media
  •  
  • 1
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
    1
    Share

The presidency has come out to give a blow by blow ac­count of how it in­tends to distribute the $311 million looted by the late Head of State, General Sani Abacha, but recently repa­triated by the United States government.

Senior Special Assistant to the President on Media and Publicity, Garba Shehu, said the bulk of the money would go towards three of the Federal Government’s five priority projects, ex­cluding the Mambilla Pow­er and East-West Road proj­ects.

He took the opportunity of a statement he issued on behalf of the Presidency on Wednesday to correct a misconception, saying in an earlier statement, he had mistakenly noted that the Mambilla was one of five priority projects to benefit from the $311 million Aba­cha loot under the Presiden­tial Infrastructure Develop­ment Fund (PIDF) managed by the Nigeria Sovereign In­vestment Authority (NSIA).

“That error is regretted,” Shehu said.

According to the pres­idential spokesman, al­though the Mambilla and East-West expressway were regarded under the PIDF as priority projects, he had been able to ascertain that they are exempted from the agreement signed between the Nigerian, United States and the British territory of Jer­sey governments.

According to the doc­ument, only the second Niger Bridge, the Abu­ja-Kaduna-Kano express­way, and the Lagos-Ibadan expressway would benefit from the repatriated funds. The funds are domiciled in the NSIA.

He said all print and on­line media organizations should take note of the correction and make the necessary adjustments to their previous publications on the issue.

READ  #EndSARS: My Heart Is Broken For Nigeria- Rihanna

 


Follow Us On Social Media
  •  
  • 1
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
    1
    Share
  •  
    1
    Share
  •  
  • 1
  •  
  •  
  •  
  •  
  •  
  •  
  •  

Related posts