Abuja, Dec. 7, 2022 – The Minister of Information and Culture, Alhaji Lai Mohammed, on Wednesday said the federal government had recovered N120 billion proceeds from crimes through the instrumentality of the Proceeds of Crime (Recovery and Management) Act.
The minister said this during the presentation of a scorecard of President Mohammadu Buhari’s administration in Abuja.
He said that the federal government was winning the war, stressing that the Proceeds of Crime (Recovery and Management) Act was among three legislations designed by the executive to combat corruption.
The minister said in line with the legislation, some agencies had opened confiscated and forfeiture properties accounts in the Central Bank of Nigeria.
“Please permit me to say categorically and without any fear of contradiction that the administration’s fight against corruption is very much on track.
“As you may already know Mr President signed into law the Proceeds of Crime (Recovery and Management) Bill, 2022, on May 12th, 2022.
‘That bill was one of the three which Mr. President signed into law that day. Others are the Money Laundering (Prevention and Prohibition) Bill, 2022 and the Terrorism (Prevention and Prohibition) Bill, 2022.
“I have an update on the Proceeds of Crime (Recovery and Management) Act (POCA), 2022. 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 (CBN).”
The minister said the N120 billion recovered be used to fund the completion of ongoing critical infrastructure like the Second Niger Bridge as well as Lagos-Ibadan and Abuja-Kano Expressways. (GBN)
