• Senate OKs EFCC to keep 2% of recovered loot

    Senate OKs EFCC to keep 2% of recovered loot

    The Nigerian Senate, yesterday indicated that the Economic and Financial Crimes Commission, EFCC, would be empowered to keep two percent of recovered loots as soon as the amendment of the Act which set it up was completed.

    Senator Chukwuka Utazi, Chairman, Senate Committee on Anti-Corruption, who led other members of the committee to Enugu State Speaking during a nationwide visit to offices of government agencies handling corruption-related cases, said the bill for an act to amend EFCC laws will be passed […]

  • Why recovered loot can’t be spent yet – FG reveals

    Why recovered loot can’t be spent yet – FG reveals

    According to reports, the Minister of Finance, Mrs Kemi Adeosun, has revealed that the federal government has, aside cash, recovered landed properties, high valued automobiles and jewelries from looters, pointing out that most of the monies recovered from treasury looters could not be used because they are bug down with litigations.

    Adeosun spoke yesterday at the National Assembly during an interactive meeting on the performance of the 2016 Budget with the Senate Committee on Appropriation.

    She explained that some of the buildings […]

  • Unkown gunmen sack Lagos community, loot property

    Unkown gunmen sack Lagos community, loot property

    Fatoki community in the Egan, Igando area of Lagos State, has been deserted, after no fewer than 100 gunmen attacked the area in a three-day onslaught.

    It was learnt that during the siege, the gunmen, suspected to be militants, shot three residents and looted shops and homes in the community.

    Aside carting away drinks, including herbs, the men reportedly stole generators, televisions, laptops and refrigerators.

    It was learnt that the robbers entered into the community through the waterways.

    Our correspondent gathered that the community […]

  • Return your loot to experience peace – Buhari warns looters

    Return your loot to experience peace – Buhari warns looters

    President Muhammadu Buhari on Wednesday asked those who have stolen the nation’s commonwealth to come and negotiate how they will return their loot.

    He said the move has become necessary so that all may know peace.

    The President has also told militants engaging in renewed violence in the Niger Delta in clear terms that the unity of the country remains non-negotiable.

    Buhari spoke when Vice-President Yemi Osinbajo and the Minister of the Federal Capital Territory, Muhammed Bello, led residents of the FCT to […]

  • FG urged to invest recovered loot in housing

    FG urged to invest recovered loot in housing

    A call has gone to the Federal government to invest recovered looted funds in the development of low-cost housing and mortgage financing to facilitate the reduction of housing deficit in Nigeria.

    Director-General, Institute of Mortgage Brokers and Lenders (IMBL), Elisha Jasper, made the call in a congratulatory message to the President Muhammadu Buhari on his one year in office.

    “There is a lack of mortgage professionals in Nigeria due to lack of mortgage studies; thereby creating a lack of knowledge and skills […]

  • Share recovered loot among 36 states‎ – PDP chieftain tells Buhari

    Share recovered loot among 36 states‎ – PDP chieftain tells Buhari

    A chieftain of the People’s Democratic Party, (PDP) in Ekiti State, Hon Gboyega Akinola has warned President Muhammadu Buhari against repeating the errors he made as Military Head of State, regarding recovered assets.

    He also frowned at the non-disclosure of identities of the identified treasury looters, saying that it might give room for suspicion and cast doubt on the genuineness of the anti- graft war.

    Speaking in Ado-Ekiti, the former PDP secretary in the state recalled how Buhari, as Military leader in […]

  • EFCC Arrests Former Akwa Ibom Governor Over Diezani’s Alleged $115million Loot

    EFCC Arrests Former Akwa Ibom Governor Over Diezani’s Alleged $115million Loot

    The erstwhile military administrator of Akwa Ibom State and chieftain of the Peoples Democratic Party, PDP, Idongesit Nkanga has been arrested by the Economic and Financial Crimes Commission, EFCC.

    Mr. Nkanga, a retired air commodore, is accused of receiving N450,000,000(Four Hundred and Fifty Million Naira only) from the sleazy $115million deposited by former Minister of Petroleum Resources, Diezani Alison-Madueke, with Fidelity Bank Plc.

    Premium Times reports that the former governor was picked in Port Harcourt, the Rivers State capital on Monday. The […]

  • Abacha’s loot is too huge for us to handle, please exercise more patience – World Bank begs Group

    Abacha’s loot is too huge for us to handle, please exercise more patience – World Bank begs Group

    The World Bank begs the human rights group seeking information on the loot that it needs additional time to provide comprehensive information on the spending of recovered funds looted by the late Nigerian Head of State, Sani Abacha. It says it’s about seven billion dollars, that for now it is compiling information on the spending.

    According to the World Bank “In response to your request, we would like to inform you that we are still considering your request and we will […]

  • France agrees to help Nigeria trace looted funds

    France agrees to help Nigeria trace looted funds

    The French government has promised that it will help Nigeria trace looted funds.

    French President Francois Hollande made the promise in Paris at a closed-door meeting he had with President Muhammadu Buhari in Paris on Monday.

    President Buhari arrived Abuja yesterday after a three-day official visit to France on the invitation of Hollande.

    The Special Adviser to President Buhari on Media and Publicity, Mr Femi Adesina, said this last night on the network news of the Nigerian Television Authority (NTA) which was monitored […]