See What Minister Of Finance, Kemi Adeosun Said About Looted Funds

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During a press conference on the World Bank, IMF meetings in Washington,the Minister of Finance, Kemi Adeosun, assured Nigerians that accurate measures has been put in place to ensure that all recovered fund during the President Muhammadu Buhari’s government will not be re-looted. 

She said, “We have a recovery account. All the recovered funds go into the recovery account” 

“What we are trying to do is to make sure that there is real control, that was why we created a central recovery account. What we also discovered is that so many agencies are recovering and we must keep an eye on those recoveries, otherwise there is the risk of re-looting. 

“So, all the agencies that have recovered funds send us their returns monthly and then we sweep it into a central account which is kept by the Accountant General, so that they can be reconciled” 

“Some of the cash that is recovered, we have to make sure it goes into the bank. You’d be surprised; some agencies will recover cash, and they think it is evidence, and we are saying no, its money, put it in the bank” 

“This is something that is new and I think it is a good thing. As we recover more, we get better at it. It is a new thing in Nigeria.”

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