FG to spend ex-public officer's $162M loot on masses

There are reports that the Federal Government is set to invest some of the recently recovered funds on social intervention programmes.

Punch Newspaper reports that part of the sum of $162million which include $9m recovered from Andrew Yakubu and $153m forfeited by Diezani Alison-Madueke, has been scheduled to be invested in FG's social intervention programmes.

A source reportedly hinted that part of the recovered funds will be immediately used to fund the welfare scheme for the poor.

The source was also quoted as saying: “The National Economic Forum has been meeting and we are looking at the idea of investing the recovered funds on the social intervention programme which will gulp hundreds of billions of naira.”

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The official, who reportedly wished to remain anonymous, also disclosed that the money would be used in paying the N30,000 monthly stipend to beneficiaries of the N-Power scheme and the school feeding programme.