Lateef Fagbemi, the Federation’s Attorney General and Minister of Justice, has denied reports that the Federal Government retrieved $967.5 billion in embezzled money.
Fagbemi stated that the actual numbers are far lower but noteworthy during his remarks at the Asset Recovery Summit in Abuja on Tuesday.
In a statement he signed and made public on Friday, he said as much.
He added that, in contrast to the allegations, $105.9 million, not $967.5 billion, was retrieved.
He said, “In 2024 alone, the Economic and Financial Crimes Commission reclaimed over N248 billion, $105 million, and 753 duplexes. The Independent Corrupt Practices Commission also recovered N29.685 billion in cash and $966,900 in assets.”
He continued by saying that Nigeria had recovered around $763.7 million and £6.47 million with the help of foreign partners since 2017.
He mentioned that in 2024, around $102.88 million and £2.06 million were recovered.
“The figure quoted by the writers is false and completely at variance from my remarks,” the AGF said, urging media outlets who published the incorrect $967.5 billion figure to retract their reporting.
He emphasised that seized monies are used for significant initiatives and commended the government’s transparency.
READ ALSO: Bayelsa Tragedy: Bolt Driver Shot Dead in Cold Blood
“From 2017 to 2024, recovered funds helped fund critical infrastructure like the Lagos-Ibadan Expressway, the Second Niger Bridge, and the Abuja-Kano Road,” he said.
The funds are also supporting healthcare, renewable energy projects, and rule of law initiatives in Nigeria.
Fagbemi concluded, “Asset recovery is key to fighting corruption and building trust in government. Nigeria has earned global recognition for its efforts, and we will continue to pursue transparency and justice.”
