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N500bn recovered loot to go into funding 2018 budget

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Betrayal is typical of Saraki —Sagay

The Nigerian government says it would channel about N500 billion recovered from its anti-corruption drive towards partly funding the 2018 budget.

President Muhammadu Buhari had on Tuesday presented a budget proposal of N8.6 trillion to a joint session of the National Assembly.

However, Prof. Itse Sagay, Chairman of the Presidential Advisory Committee Against Corruption (PACAC) said on Friday that efforts of the Federal Government’s anti-corruption has yielded some fruits.

Read also: $35M SPENT FROM NSIA: Melaye making ‘unverified allegations’ –Fashola

Sagay spoke in Abuja during and interactive session with stakeholders.

“In 2018, N500bn from what has been recovered is going to be used to fund the budget,” he said.

According to him, the country has never witnessed the recovery of such quantum of looted funds like as been done under the Buhari Administration in the last two years.

He said, “Regardless of what some elites, who I think are the beneficiaries of corruption, are saying, the anti-corruption efforts have been extremely successful,” he said.

 

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0 Comments

  1. seyi jelili

    November 10, 2017 at 8:31 pm

    Prof sagay, I hope you haven’t been soiled too with corruption because I don’t trust you again.

    • JOHNSON PETER

      November 11, 2017 at 3:16 am

      Sagay can never compromise

  2. JOHNSON PETER

    November 10, 2017 at 9:01 pm

    #500bn all this while, it should be more than that,

  3. Abeni Adebisi

    November 10, 2017 at 10:18 pm

    Well, it’s been wonderful job in bringing down the rate of corruption in this country, if the federal government will truly use the recovered loots to fund the 2018 budget, it means we’ll borrow less in 2018

  4. Animashaun Ayodeji

    November 10, 2017 at 11:28 pm

    We have no way of tracking the funds, we just have to believe whatever they tell us. If the money will be use to fund 2018 budget, so be it, I just hope this is true

    • Anita Kingsley

      November 10, 2017 at 11:38 pm

      Honestly, I really wish we can track how the monies are being spent, that’s the only way we can detect if the FG is truly using the recovered funds for budget as said

  5. Anita Kingsley

    November 10, 2017 at 11:37 pm

    I really don’t understand this again, I thought they earlier said the recovered looted funds had been used to sponsor part of 2017 budget, how come we still have this much to pump inti 2018 budget? I’m confused.

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