Buhari sets up committee to audit recovered ‘loot’

President Muhammadu Buhari has inaugurated a committee to audit the assets recovered by government agencies.

The committee, which has Olufemi Lijadu, Gloria Bibigha and  Mohammed Nami as members, is expected to audit all recoveries from the beginning of this administration until April 10, 2017.

It has been given four weeks to submit its report.

Speaking at the inauguration which held at the presidential villa in Abuja on Wednesday, the president sought the cooperation of banks and ministries, departments and agencies.

He said the gains of the anti-corruption campaign of his administration were enormous, warning that his administration would not allow diversion of funds.

He said the recovered funds to be deposited in designated accounts and be managed transparently.

“The decision to inaugurate this audit committee on the recovery and management of stolen assets within and outside Nigeria today is therefore the next step in ensuring that all returns filed by the various agencies are accurate and consistent with actual recoveries made,” he said.

“The committee, in essence, is therefore expected to judiciously undertake an audit of all recovery accounts established by government agencies from the date of opening such accounts up to 10th April, 2017.”