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Thursday, July 18, 2024

FG spent recovered loot on road projects, Lai Muhammad

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Information and Culture Minister Lai Mohammed has said the N120 billion recovered through the Proceeds of Crime (Recovery and Management) Law (POCA) 2022 has been devoted to building expressways and bridges by the Muhammadu Buhari administration.

The minister said this at the eighth edition of the Buhari administration’s scorecard, which also featured Environment Minister Mohammed Abdullahi, yesterday in Abuja.

The President had, in May, signed the Proceeds of Crime (Recovery and Management) Bill, Money Laundering (Prevention and Prohibition) Bill, 2022 and the Terrorism (Prevention and Prohibition) Bill into law to improve the country’s anti-money laundering and counter-terrorist financing framework.

He said his assent to the Bills was in line with the endless commitment of his administration to end terrorism as well as other corrupt practices in the country.

Mohammed said the Buhari administration’s war against corruption was commendable for signing those significant Bills into law.

He said: “In line with the new law, all relevant government agencies have now opened ‘Confiscated and Forfeiture Properties Account’ with the Central Bank of Nigeria (CBN).

“The money is being 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.”

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