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FG Recovers N18bn Looted Funds – Minister

Published

9 years ago

January 27, 2017

The Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami (SAN), says the Federal Government has recovered N15billion and $10.5 million so far in its asset recovery drive.
Malami disclosed this yesterday in Abuja when the Senate Committee on Judiciary, Human Rights and Legal Matters visited the ministry on its oversight function to appraise the 2016 budget performance of the ministry.
“Let me put it on record that the Federal Ministry of Justice has equally significantly recorded success in the recovery drive as it relates to the looted funds.
“In that regard and direction, over N15billion has been recovered by the ministry and $10.5million was equally recovered in that direction,’’ Malami said.
The minister said that exclusive of the recoveries, the revenue profile of the ministry as at December 31, 2016, was N12.4million.
He said this was generated from sale of journals, renting of part of the headquarters building to commercial entities, use of its conference hall, tender fees and sale of un-serviceable items.
He added that the total expenditure profile of the ministry within the same period was N3.7billion, including personnel and non-regular allowances.
The chief law officer of the country said that the ministry, by virtue of its mandate, was in a vantage position to articulate and implement the present administration’s broad policy objectives in four major priority areas.
“The anti-corruption campaign, the recovery of stolen national assets, the rule of law component of the anti-terrorism war and the institutionalisation of law and order in all aspects of national life,’’ he said.
On Nigeria’s non-membership of the Financial Action Task Force (FATF), Malami explained that it will take the collaboration of both the executive and the legislature to scale all the hurdles.
“Among some of the demands required to become a member are the passing of the Money Laundering Act, Proceeds of Crime Act and Autonomy of the Financial Task Force.
“All these bills are still pending before the legislature and have not been passed, so we need to work together to get Nigeria registered.’’
The Chairman of the Committee, Sen. David Umaru (APC-Niger) said the 2016 budget was fraught with challenges but noted that the ministry and its parastatals was able to make judicious use of it.
He said the committee was not oblivious of the recent economic challenges in the country and was already preparing for the 2017 budget defence.
Umaru said the committee would work in consultation with the executive, particularly the justice ministry, to ensure that the budget was passed so as to address the economic situation in the country.
He added that the committee was also working to ensure that all bills necessary to make the work of the ministry and its parastatals easier were been looked into with a view to passing them soon.
A member of the committee, Sen. Chukwuka Utazi (PDP-Enugu) decried Nigeria’s non-membership of the FATF.
According to Utazi, as a country that really wants to fight corruption, if we are on the FATF, it will help us to recover some of the stolen assets.
“Nigeria is not a member of FATF, this is a very important membership which we have not yet gotten and this can help us recover stolen assets since it is one of its core mandates.’’
He lamented that office of the attorneys-general always put in applications for membership every year but failed to follow it through.
The lawmaker said that the shuttle diplomacy Nigeria was engaging in would not yield much without a membership of the FATF as no other member would give Nigeria support unless it was registered.
It would be recalled that N3.9billion was appropriated for the main ministry in the 2016 budget with overhead cost taking over N1.7billion.
Meanwhile, the House of Representatives has begun investigation of the allegedly missing $1.1billion signature bonuses which accrued to the country from Oil Prospecting Licences (OPLs).
Consequently, the House has invited the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele; the Group Managing Director, Nigerian National Petroleum Corporation NNPC), Dr Maikanti Baru, and the Executive Secretary, Department of Petroleum Resources (DPR), Mr Mordecai Baba Ladan, to come and explain the whereabouts of the money.
The chief executives are expected to appear before the ad-hoc committee of the House on Oil Prospecting Licences (OPLs) and Oil Mining Leases (OMLs) on Monday, February 1, 2017.
The committee had Wednesday refused to grant audience to representatives of the agencies, as they observed that none of them could present a letter authorising them to represent their chief executives in that capacity.
The committee particularly complained that the CBN boss had ignored the three letters it had written to the apex bank, and threatened to issue a warrant of arrest on Emefiele should he fail to appear before it as scheduled.
Chairman of the committee, Hon. Gideon Gwani, noted that the signature bonuses paid by owners of some OPLs, which amounted to over $1billion, could not be traced.
According to Gwani, all efforts to trace the money were futile as the DPR, CBN, Petroleum Technology Development Fund (PTDF), NNPC and the accountant-general’s office denied the committee details of the transaction.
He explained that the DPR could not confirm if the fees claimed to have been paid by the oil companies had actually been received by the government through the CBN, the banker to the Federal Government.
“It has been realised through our investigation that we need, seriously, evidence to prove that signature bonuses are paid,” he said.
Gwani stated further that the DPR advised the committee to request the information directly from the CBN, while the CBN told the committee to liaise with the NNPC on OPLs and OMLs, with the DPR on royalties, and with the accountant-general of the federation on signature bonuses.
The committee established that signature bonuses amounting to $835 million, which accrued from OPL 250, 291, 332, 276, 321,323,283,315, 257, 279, 285, 288, 298, 471, 289, 284 and 236, as well as part payment of $271.18 million signature bonuses from OPL 214, 324, 320, 318, 256, 242, 223, 221, 245, 247, 322, 248 and 249, could not be traced.
“We need evidence that full payments were made for OPLs 250, 291, 332, 276, 321, 323, 283, 315, 257, 279, 285, 288, 298, 471, 289, 284 and 236, and the total amount we are looking for is $835 million.
“We also need evidence of part payments of OPLs 214, 324, 320, 318, 256, 242, 223, 221, 245, 247, 322, 248 and 249, which amount to $271.18million, leaving the balance of $648.2million,” Gwani said.
Although the committee acknowledged that most of the OPLs had been converted to OMLs, Gwani said they were listed at their state when the transactions took place.
“Most of the OPLs have been converted to OMLs, but we have chosen to list them at the state at which the debt and payment occurred,” he clarified.
The lawmaker explained that the committee was mandated by the House of Representatives to investigate the award of all OPLs and OMLs granted to oil companies by the Federal Government, to, among other things, ascertain whether due process and guidelines for the acquisition of oil and gas assets were complied with.
“It is, therefore, noteworthy that payment of fees before and after the acquisition of oil blocks fall part of due process required to be fulfilled by the Petroleum Act, which this committee was mandated to investigate,” he said.
Gwani pointed out that the agencies’ refusal to provide required information spoils the image of government and undermines its fight against corruption, adding that “The development is unfortunate, especially at the time when the government is in dire need of money to fund its projects.”

Featured

Fubara Reaffirms Commitment To Peace, Development

Published

2 weeks ago

May 29, 2026

The Tide

Governor of Rivers State, Sir Siminalayi Fubara, has reaffirmed the unwavering commitment of his administration to peace, unity, security, and inclusive development as Rivers State marked its 59th anniversary, last Wednesday.

In a goodwill message issued on Wednesday to commemorate the anniversary, Governor Fubara stated that despite the challenges faced over the years, the people of Rivers State have continued to demonstrate resilience, strength, and an enduring spirit of unity that has sustained the state since its creation.

The Governor noted that the strong bond of brotherhood among the various ethnic nationalities of the state, including the Ijaw, Ikwerre, Ogoni, Etche, Ekpeye, Andoni, Kalabari, and others, remains one of Rivers State’s greatest strengths and a critical foundation for peace, stability, and progress.

He further observed that Rivers State has remained a major driver of Nigeria’s economy for decades, not only because of its abundant oil and gas resources, but also because of the exceptional contributions of its people across diverse sectors including academia, jurisprudence, business, entertainment, public service, and sports.

Governor Fubara assured the people that his administration will continue to prioritize policies and programmes that promote peace, protect lives and property, and expand development across all parts of the state. He emphasized that governance must be people centered and impactful, with equal attention given to every Local Government Area of the state.

The Governor also paid tribute to the elders and founding leaders of the state for preserving the spirit of unity and coexistence over the years, while urging the youths to remain hopeful, responsible, and actively committed to building a greater Rivers State through innovation, hard work, and patriotism.

He equally acknowledged the invaluable role of women in strengthening families, communities, and society, describing them as indispensable partners in the continued growth and stability of the state.

Governor Fubara called on all Rivers people to use the occasion of the anniversary as a moment of reflection and renewed commitment to peaceful coexistence, mutual respect, dialogue, and collective progress, stressing that the unity and future of Rivers State must always rise above personal interests and political differences.

Rivers State was created on May 27, 1967, by General Yakubu Gowon.

Editorial

Nigeria’s 27 Years of Civil Rule Journey

Published

2 weeks ago

May 29, 2026

The Tide

Nigeria returned to civil rule on May 29, 1999, after several years of military intervention in politics. The transition marked a major turning point in the nation’s history and raised hopes for freedom, stability, economic growth and accountable leadership. Citizens expected that elected governments would strengthen institutions, improve living conditions and unite the country after years of authoritarian rule. Twenty-seven years later, civil rule has survived without interruption, making it the longest uninterrupted civilian administration since independence in 1960.

Since 1999, Nigeria has witnessed six administrations at the federal level. Olusegun Obasanjo governed from 1999 to 2007, followed by Umaru Musa Yar’Adua from 2007 until his death in 2010. Goodluck Jonathan served from 2010 to 2015, while Muhammadu Buhari led the country between 2015 and 2023. Since May 2023, Bola Ahmed Tinubu has been in office. Though democracy has remained stable, governance outcomes have produced mixed reactions among Nigerians.

The country has made some notable progress over the past 27 years. Democratic institutions such as the National Assembly, judiciary, political parties and the media have become stronger than they were during military rule. Elections are now regular, though still imperfect. Telecommunications, banking, entertainment and digital technology have expanded greatly. Nigerian youths have also become more politically aware and active. The country’s economy, despite its difficulties, remains one of the largest in Africa.

However, many of the expectations that came with democracy remain unmet. Corruption, unemployment, poverty, insecurity and poor infrastructure continue to trouble the nation. Public confidence in government institutions has weakened over time because many citizens believe political leaders have not done enough to improve their welfare. Ethnic and religious tensions also remain major challenges. While democracy has endured, good governance has not always matched the hopes of the people.

President Tinubu’s administration began with bold economic decisions aimed at reforming the nation’s finances. His government removed fuel subsidy and unified the foreign exchange system. Supporters argue that these measures were necessary to reduce waste and attract investment. The government also increased revenue allocation to states and sought to improve tax administration. Yet the immediate impact has been severe hardship for millions of Nigerians. Inflation, high transport costs and the falling value of the naira have placed enormous pressure on households and businesses.

In education, the Tinubu administration has promised reforms through student loan schemes, support for technical education and efforts to reduce strikes in tertiary institutions. Some progress has been recorded with the establishment of the Nigerian Education Loan Fund. However, public schools still face poor funding, inadequate facilities and shortage of teachers. Many students continue to struggle with rising school fees and declining quality of education.

The health sector under the current administration has also recorded both efforts and challenges. Government has pledged to improve health insurance coverage. Nevertheless, hospitals across the country still suffer from inadequate equipment, shortage of medical personnel and brain drain as doctors and nurses continue to leave Nigeria for better opportunities abroad. Access to affordable healthcare remains difficult for many rural communities.

The power sector remains one of Nigeria’s biggest disappointments after nearly three decades of democracy. Despite repeated promises and reforms, electricity supply is still unstable. Businesses and households spend heavily on generators and fuel. The Tinubu administration has introduced policies aimed at decentralising power generation and encouraging investment, but ordinary Nigerians are yet to feel significant improvement in electricity supply.

The rising cost of living has become the greatest concern for many Nigerians today. Food prices, transportation costs and rent have increased sharply. Though the Federal Government introduced palliative programmes and cash transfer initiatives to cushion the effects of reforms, many citizens believe the interventions have been inadequate or poorly distributed. There is growing demand for more effective social protection programmes targeted at vulnerable citizens.

On national security, the government continues to battle terrorism, banditry, kidnapping and communal violence. Security agencies have recorded some successes in parts of the country, yet insecurity remains widespread. Farmers in many rural communities still face attacks, affecting food production and increasing fear among citizens. Regional stability in West Africa has also become more uncertain due to political crises in neighbouring countries. Nigeria continues to play a leading diplomatic role in the region, but internal security challenges weaken its influence.

In infrastructure and other key sectors, the Tinubu administration has continued several road, rail and housing projects inherited from previous governments. Investments in ports, gas and digital technology have also been encouraged. In agriculture, government has promoted mechanised farming, dry season cultivation and access to credit. Yet food insecurity remains high because insecurity, inflation and poor rural infrastructure continue to affect agricultural productivity. Nigeria still imports many food items despite its vast agricultural potential.

To improve national conditions, the Federal Government must place greater attention on job creation, industrialisation and support for small businesses. More investment is needed in agriculture, healthcare, education and electricity. Anti-corruption institutions should be strengthened while government spending must become more transparent. Leaders must also prioritise national unity and reduce political divisions. Nigerians expect reforms that produce visible improvements in their daily lives, not only policy announcements.

In Rivers State, the 27 years of civilian rule have produced substantial development alongside political tensions. The state has remained economically important because of its oil and gas resources. Different administrations since 1999 have invested in roads, schools, healthcare facilities and urban renewal projects. However, political conflicts and struggles for power have often affected governance and slowed development in parts of the state.

Governor Siminalayi Fubara assumed office in May 2023 amid high expectations and intense political disagreements. In infrastructure, his administration has initiated projects such as massive road construction, bridge rehabilitation and urban development schemes in parts of the state. Ongoing works on major roads and public facilities have been presented as efforts to improve transportation and economic activities. Critics, however, argue that political instability in the state has distracted government’s attention from faster project delivery.

In education and health, the Rivers State Government has continued support for public schools and healthcare centres. Efforts have reportedly been made to improve learning environments and sustain payment of workers’ salaries. In health, there have been interventions in hospitals and primary healthcare services. On security, the administration has worked with security agencies to maintain peace, although political tensions in the state have created uncertainty. In the civil service, workers and pensioners have largely continued to receive salaries, stipends, and welfare support. The state government has also shown interest in agriculture and power development, though these sectors still require stronger investment and clearer long term strategies.

Going forward, Rivers State needs greater political stability to achieve meaningful development. The government should focus more on rural roads, youth employment, agricultural expansion and uninterrupted healthcare services. Investments in independent power projects and industrial development would help attract businesses and reduce unemployment. Above all, political leaders in the state must place the interest of the people above personal or factional battles. Democracy can only succeed when governance delivers peace, development, and hope to ordinary citizens.

Featured

WASSCE: RSG Distributes Science Materials To Secondary Schools

Published

4 weeks ago

May 13, 2026

The Tide

The Rivers State Government has distributed science equipment and materials to all senior secondary schools across the state to support students during the ongoing West African Examinations Council exams and to strengthen practical learning.

Flagging off the distribution at the Rivers State Senior Secondary Schools Board premises in Port Harcourt, on Monday, the State Commissioner for Education, Dr. Peters Nwagor, said the move demonstrates Governor Siminalayi Fubara’s commitment to improving education standards in the State.

Nwagor said the materials were approved and provided by the state government specifically to boost the teaching and learning of science subjects, describing science education as the foundation for technological advancement, innovation, and national development.

“No society can compete globally without deliberate investment in science and technology,” the Commissioner stated.

He commended the governor for consistently prioritising the education sector by providing tools needed for effective teaching and hands-on learning.

The Commissioner directed principals to ensure that the equipment are used strictly for practical lessons in their schools, warning that any principal or administrator found diverting, hoarding, or selling the materials wil face disciplinary action under public service regulations.

Nwagor also warned against examination malpractice, saying any principal found aiding or encouraging malpractices will be decisively sanctioned.

“We must collectively restore the dignity and credibility of our educational system,” he said.

Also speaking, Chairman, Rivers State Senior Secondary Schools Board, Tony Egwurugwu, urged school heads to make judicious use of the materials for students’ benefit.

He thanked the State Government for providing the resources, and assured that monitoring mechanisms would be put in place to ensure the materials serve their intended purpose.

In his own remarks, a Board Member for Technical Education, Nwisabari Bani Samuel, expressed appreciation to the governor for prioritising education and acknowledged the Commissioner’s role in advancing education development in the State.

He said the distribution covers all senior secondary schools in the State and is intended to improve students’ performance in both internal and external science examinations.

Akujobi Amadi