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FG RELEASES INTERIM REPORT ON FINANCIAL, ASSETS RECOVERIES.

The Federal Government made cash recoveries totaling N78,325,354,631.82 (Seventy eight billion, three hundred and twenty-five million, three hundred and fifty-four thousand, six hundred and thirty one Naira and eighty two kobo); $185,119,584.61(One hundred and eight five million, one hundred and nineteen thousand, five hundred and eighty four US dollars, sixty one cents); 3,508,355.46 Pounds Sterling (Three million, five hundred and eight thousand, three hundred and fifty-five Pounds and 46 Pence) and 11, 250 Euros (Eleven thousand, two hundred and fifty Euros) from 29 May 2015 to 25 May 2016.

In a statement in Lagos on Saturday, the Minister of Information and Culture, Alhaji Lai Mohammed, also disclosed that Recoveries Under Interim Forfeiture (cash and assets) during the period totaled N126,563,481,095.43 (One hundred and twenty six billion, five hundred and sixty three million, four hundred and eighty one thousand, and ninety five Naira, forty three Kobo; $9,090,243,920.15 (Nine billion, ninety million, two hundred and forty three thousand, nine hundred and twenty Dollars, fifteen cents; 2,484,447.55 Pounds Sterling (Two million, fourhundred and eighty four thousand, four hundred and forty seven Pounds, fifty five Pence) and 303,399.17 Euros (Three hundred and three thousand, three hundred and ninety-nine Euros, 17 cents ).

According to the statement, which is based on the interim report on the financial and assets recoveries made by the various government agencies from 29 May 2015 to 25 May 2016, the Funds Awaiting Return From Foreign Jurisdictions total $321,316,726.1 (Three hundred and twenty one million, three hundred and sixteen thousand, seven hundred and twenty six Dollars, one cent); 6,900,000 Pounds (Six million, nine hundred thousand Pounds) and 11,826.11 Euros (Eleven thousand, eight hundred and twenty six Euros,11 cents).It showed that Non-Cash Recoveries (Farmlands, Plotsof Land, Uncompleted Buildings, Completed Buildings, Vehicles and Maritime Vessels) during the period total 239.
The following is the breakdown of the recovered cashand assets:INTERIM REPORT ON FINANCIAL AND ASSET RECOVERIES MADE BY THE FEDERAL GOVERNMENT OF NIGERIA FROM 29 MAY 2015 TO 25 MAY 2016 Cash RecoveriesSerial Items Naira US Dollar GB Pounds Euro1 EFCC Cash at hand 39,169,911,023.00 128,494,076.66 2,355 11,2502 Royalty/tax/payment to FGN account in JP Morgan account New York 4,642,958,711.48 40,727,253.653 ONSA Funds Recovery Account in CBN 5,665,305,527.41 8,000,000.004 VAT recovered from companies by ONSA 529,588,293.475 EFCC Recovered Funds Account in CBN 19,267,730,359.36 455,253.806 ICPC Revenue Collection Recovery in CBN 869,957,444.897 Office of the Attorney General 5,500,000,000 5,500,0008 DSS Recoveries 47,707,000.5 1,943,000.5 3,506,000.469 ICPC Cash Asset Recovery 2,632,196,271.71Total 78,325,354,631.82 185,119,584.61 3,508,355.46 11,250Recoveries Under Interim ForfeitureSerial Items Naira US Dollar GB Pounds Euro1 Cash in bank under interim forfeiture 8,281,577,243.92 1,819,866,364.73 3,800.00 113,399.172 Amount frozen in bank 48,159,179,518.90 7,131,369,498.49 605,647.553 Value of properties under interim forfeiture 41,534,605,998.00 77,844,600.00 1,875,000.00 190,000.004 Value of cars under interim forfeiture 52,500,000.005 ONSA Funds under interim forfeiture 27,001,464,125.20 43,771,433.736 Value of Assets Recovered by ONSA 512,000,000.007 ONSA Assets under interim forfeiture 260,000,000.008 DSS Recoveries Frozen in Banks 658,929,000.00 226,476.209 EFCC Cash in Bank under final forfeiture 103,225,209.41 17,165,547.00Total 126,563,481,095.43 9,090,243,920.15 2,484,447.55 303,399.17Grand Total 204,888,835,727.25 9,275,363,504.76 5,992,803.01 314,649.17 Funds Awaiting Return From Foreign JurisdictionsJurisdiction US Dollar GB Pounds Euro1 Switzerland 3210000002 UK 69000003 UAE 310501 11826.114 USA 6225.1Total 321,316,726.1 6,900,000 11,826.11 Non Cash RecoveriesSerial Items QuantityICPC EFCC ONSA1 Farmland 222 Plot of Land 43 Uncompleted Building 14 Completed Building 33 145 45 Vehicles 22 36 Maritime Vessels 5Total 82 153 4.

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