How FG Will Manage Recovered Abacha Booty

By Amechi Idumuebor (AGENDAWATCHDOG) – The $308m Sani Abacha loot recovered in 2020, by the federal government, has been pledged towards the construction of the Lagos-Ibadan Expressway, Abuja-Kano Expressway and the Second Niger Bridge, according to the Minister of Works, Babatunde Raji Fashola.

Fashola, who disclosed this while speaking on a live television programme, monitored by our correspondent in Abuja, on Thursday night, said that the funds are domiciled in the Sovereign Wealth Fund, which is managed by the Nigeria Sovereign Investment Authority, and not in the accounts of the Ministry of Works, as was being speculated in some quarters.

The minister pointed out that contractors handling projects for the government correspond with the ministry’s staff, controller and directors, who provide technical governance to ensure projects are executed to specification, following which they are certified, before certificates are authenticated and sent to the NSIA, adding that what they are concerned with is ensuring that monies approved for projects are judiciously used.

Agenda Watchdog

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