Politics
How we spent Abacha’s $322m loot —Presidency
The Presidency has explained that the repatriated $322 million looted by the late Head of State, General Sanni Abacha, was used to make conditional cash transfer of N5000 monthly to about 300,000 poor homes in the country.
The Senior Special Assistant to the President on Media and Publicity, Garba Shehu, made the explanation in a statement.
According to Shehu, the conditional cash transfer is under the Social Investment Programme introduced by the Federal Government, adding that the spending was in line with the Memorandum of Understanding signed between the governments of Nigeria and Switzerland as a condition for releasing the funds.
Read also: BUHARI: It’s the system that made me ‘Baba Go Slow’
The presidential aide further stated that as part of the MoU, the World Bank is monitoring the application of the funds and that the Bank has also given an additional facility to support the on-going cash transfers.
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