FG should start spending recovered loot. Times Are Hard– Falana

Human rights lawyer, Mr. Femi Falana, on Saturday expressed the fears that both the Federal Government and Nigerians would not benefit from the funds recovered from public treasury looters if the monies are not being disbursed to cushion the effects of the current hardship.


The Senior Advocate of Nigeria, in an interview with Sunday PUNCH in Abuja, therefore advised the President Muhammadu Buhari-led administration to set up a special fund similar to the Petroleum Trust Fund, to cater for special projects across the country.

Falana was reacting to the Minister of Information and Culture, Mr. Lai Mohammed, who said on Friday that the amount of loot so far recovered by the government was not enough to revive the economy, which is currently in a recession.

The minister, who spoke at the News Agency of Nigeria Forum in Abuja, said the N78bn and $3m (N945m) so far recovered were not even sufficient to pay half of the Federal Government workers' salaries in a month.

He had said, 'What we have recovered and if my record is right, is about N78bn and $3m. We've blocked other accounts with about $9bn, but the money is not available to us because we are still in court.