Politics
What FG is doing with recovered looted funds – Buhari
President Muhammadu Buhari on Tuesday said that the Federal Government has been using part of the stolen funds recovered from looters to finance the 2017 budget.
The questions of what government has been using the several stolen billions of Naira said to have been recovered from looters to do has continued to bother the minds of many Nigerians.
But speaking at the 22nd annual conference of the Association of National Accountants of Nigeria in Abuja on Tuesday, President Buhari, who was represented by the Accountant General of the Federation, Alhaji Idris Ahmed, said part of 2017 budget has been financed by the funds.
“My administration has practically done much in delivering on its core focus of diversifying the economy. Part of the stolen funds recovered is being used by government to finance the 2017 budget.
Read also: Buhari seeks Senate’s approval for fresh $5.5bn loan
“Power generation has peaked at an all-time high of 7,001 Megawatts in the third quarter of 2017,” he said, adding that his government was targeting a production of 10,000 Megawatts of electricity by the year 2020.
According to President Buhari, the firm execution of the Treasury Single Account since September 2015 had meaningfully enhanced transparency in the Federal Government’s Public Financial Management System.
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Anita Kingsley
October 11, 2017 at 10:11 am
This is absolutely nonsense, the recovered funds are not being used to fund the 2017, Buhari is keeping them ahead of 2019 election so the monies can be used to fund the election
Animashaun Ayodeji
October 11, 2017 at 10:21 am
Baseless accusation that you cannot justify. This is APC, not PDP. If they can come into power without embezzling public funds, they won’t use recovered loots to sponsor the next election.
Abeni Adebisi
October 11, 2017 at 10:18 am
This Buhari’s government is really upsetting me! Why is the FG still borrowing money to fund the 2017 budget when the recovered loots are also being used? This is not what the recovered funds are used for, obviously!
Animashaun Ayodeji
October 11, 2017 at 10:22 am
This may sound like a lie, but there’s nothing we can do, the budget must be funded and the recovered loots are the best alternative the government has
Balarabe musa
October 12, 2017 at 6:32 am
Sure, that is our stolen funds and there is nothing bad if we use it to finance our budget.
yanju omotodun
October 11, 2017 at 8:17 pm
We need a transparent government, they should have told us before now that they are financing our budget with stolen money recovered
JOHNSON PETER
October 12, 2017 at 5:55 am
That’s Nigeria government for you. I remembered they said they can’t spend the money for now because court proceedings are still ongoing on the looted funds