Nigeria: FG Recoups N120 billion from Criminal Proceeds.

0 57

Following the passage of the Proceeds of Crime (Recovery and Management) Act, 2022, the Federal Government reported that it had recovered over N120 billion from criminal proceeds. It added that the administration’s fight against corruption was going very well and that the fund would be used to build important highways.

As you may already be aware, on May 12, 2022, Mr. President signed the Proceeds of Crime (Recovery and Management) Bill into law. In line with the new law, all relevant agencies of government have now opened ‘Confiscated and Forfeiture Properties Account with the Central Bank of Nigeria.

This money will be used to fund the completion of ongoing critical infrastructure projects in the country like the Second Niger Bridge as well as Lagos-Ibadan and Abuja-Kano expressways.

Punch

Leave A Reply

Your email address will not be published.

%d bloggers like this: