$1bn looted funds recovered since 2015, says FG

The federal government says $1 billion in looted funds have been recovered so far by the administration of President Muhammadu Buhari.

Abubakar Malami, the attorney-general of the federation (AGF), made the announcement on Wednesday.

He spoke while briefing state house correspondents after the federal executive council (FEC) meeting at the presidential villa, Abuja.

According to Malami, the recovered funds have been deployed to various sectors of the economy, including poverty alleviation.

He said since the inception of the President Muhammadu Buhari administration in 2015, over 3,000 convictions have been recorded.

The AGF also said the council approved a new anti-corruption strategy document to strengthen the anti-graft fight in the country.

While expressing government’s concern over cases of budget padding, which he described as worrisome, he added that every necessary measure would be explored to address it.