FG RELEASES INTERIM REPORT ON FINANCIAL, ASSETS RECOVERIES

The Federal Government made cash recoveries totaling N78,325,354,631.82 (Seventy eight billion, three hundred and twenty-five million, three hundred and fifty-four thousand, six hundred and thirty one Naira and eighty two kobo); $185,119,584.61 (One hundred and eight five million, one hundred and nineteen thousand, five hundred and eighty four US dollars, sixty one cents); 3,508,355.46 Pounds Sterling (Three million, five hundred and eight thousand, three hundred and fifty-five Pounds and 46 Pence) and 11, 250 Euros (Eleven thousand, two hundred and fifty Euros) from 29 May 2015 to 25 May 2016.

In a statement in Lagos on Saturday, the Minister of Information and Culture, Alhaji Lai Mohammed, also disclosed that Recoveries Under Interim Forfeiture (cash and assets) during the period totaled N126,563,481,095.43 (One hundred and twenty six billion, five hundred and sixty three million, four hundred and eighty one thousand, and ninety five Naira, forty three Kobo; $9,090,243,920.15 (Nine billion, ninety million, two hundred and forty three thousand, nine hundred and twenty Dollars, fifteen cents; 2,484,447.55 Pounds Sterling (Two million, four hundred and eighty four thousand, four hundred and forty seven Pounds, fifty five Pence) and 303,399.17 Euros (Three hundred and three thousand, three hundred and ninety-nine Euros, 17 cents ).

According to the statement, which is based on the interim report on the financial and assets recoveries made by the various government agencies from 29 May 2015 to 25 May 2016, the Funds Awaiting Return From Foreign Jurisdictions total $321,316,726.1 (Three hundred and twenty one million, three hundred and sixteen thousand, seven hundred and twenty six Dollars, one cent); 6,900,000 Pounds (Six million, nine hundred thousand Pounds) and 11,826.11 Euros (Eleven thousand, eight hundred and twenty six Euros, 11 cents).  showed that Non-Cash Recoveries (Farmlands, Plots of Land, Uncompleted Buildings, Completed Buildings, Vehicles and Maritime Vessels) during the period total 239.

The following is the breakdown of the recovered cash and assets:

INTERIM REPORT ON FINANCIAL AND ASSET RECOVERIES MADE BY THE FEDERAL GOVERNMENT OF NIGERIA FROM 29 MAY 2015 TO 25 MAY 2016

Cash Recoveries

Serial	Items	Naira	US Dollar	GB Pounds	Euro
1	EFCC Cash at hand	39,169,911,023.00	128,494,076.66	2,355	11,250
2	Royalty/tax/payment to FGN account in JP Morgan account New York	4,642,958,711.48	40,727,253.65
3	ONSA Funds Recovery Account in CBN	5,665,305,527.41	8,000,000.00
4	VAT recovered from companies by ONSA	529,588,293.47
5	EFCC Recovered Funds Account in CBN	19,267,730,359.36	455,253.80
6	ICPC Revenue Collection Recovery in CBN	869,957,444.89
7	Office of the Attorney General	5,500,000,000	5,500,000
8	DSS Recoveries	47,707,000.5	1,943,000.5	3,506,000.46
9	ICPC Cash Asset Recovery	2,632,196,271.71
	Total	78,325,354,631.82	185,119,584.61	3,508,355.46	11,250

Recoveries Under Interim Forfeiture

Serial	Items	Naira	US Dollar	GB Pounds	Euro
1	Cash in bank under interim forfeiture	8,281,577,243.92	1,819,866,364.73	3,800.00	113,399.17
2	Amount frozen in bank	48,159,179,518.90	7,131,369,498.49	605,647.55
3	Value of properties under interim forfeiture	41,534,605,998.00	77,844,600.00	1,875,000.00	190,000.00
4	Value of cars under interim forfeiture	52,500,000.00
5	ONSA Funds under interim forfeiture	27,001,464,125.20	43,771,433.73
6	Value of Assets Recovered by ONSA	512,000,000.00
7	ONSA Assets under interim forfeiture	260,000,000.00
8	DSS Recoveries Frozen in Banks	658,929,000.00	226,476.20
9	EFCC Cash in Bank under final forfeiture	103,225,209.41	17,165,547.00
	Total	126,563,481,095.43	9,090,243,920.15	2,484,447.55	303,399.17
	Grand Total Funds Awaiting Return From Foreign Jurisdictions Jurisdiction US Dollar GB Pounds Euro 1 Switzerland 321000000 2 UK 6900000 3 UAE 310501 11826.11 4 USA 6225.1 Total 321,316,726.1 6,900,000 11,826.11 Non Cash Recoveries       Serial Items Quantity ICPC EFCC ONSA 1 Farmland 22 2 Plot of Land 4 3 Uncompleted Building 1 4 Completed Building 33 145 4 5 Vehicles 22 3 6 Maritime Vessels 5 Total 82 153 4 Segun Adeyemi	204,888,835,727.25	9,275,363,50