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Abacha's recovered loot to be added to 2017 budget

Gbenga Bada

December 14, 2016 7:22 AM

The 2017 proposed budget will include loots recovered by the FG from foreign countries and internally.

The sum of $320million (N97.6 billion), which is being expected from the Swiss government as part of late Head of State, Sani Abachas loot will be added to the 2017 budget.

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According to a report by Daily Trust, the proposed budget of N7.28 trillion for 2017 will include over N565billion stolen funds that have been recovered by the government.

It was further reported that the revelation was made in a revised Medium Term Expenditure Framework (MTEF) submitted to the National Assembly last week.

As the FG remains hopeful of recovering the fund before the implementation of the 2017 budget, President Muhammadu Buhari is expected to present the proposed budget to lawmakers at a joint session of the National Assembly.

The 2017 proposed budget visibly has an increase of ‎about 19.95 per cent over 2016 budget of N6.07 trillion.

The recovered funds included N261billion domestic recoveries and another N205.5 billion tagged “other FGN recoveries.”

Gbenga Bada

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