Federal Government to partly fund 2018 budget with N500 billion recovered loot

macfranc007 November 10, 2017 Nigeria News today & Breaking news ▷ Read Nigerian newspapers 24/7 Jerrywright Ukwu

- The federal government is to partly fund the proposed N8.6 trillion budget for 2018

- This is the submission of the chairman of the Presidential Advisory Committee Against Corruption, Professor Itse Sagay

- He stated that the N500 billion recovered through government's anti-corruption efforts will be used to partly fund the budget

The chairman of the Presidential Advisory Committee Against Corruption, Professor Itse Sagay, has given a hint on how anti-corruption efforts are key to economic development.

The revered professor of law on Friday, November 10, said the federal government is to partly fund the proposed N8.6 trillion budget for 2018 with the N500 billion recovered through government's anti-corruption efforts.

He stated the federal government’s anti-corruption efforts had, so far, been extremely successful.

Buhari's government will partly fund 2018 budget with N500billion recovered loot - Sagay

Professor Sagay stated that the anti-corruption efforts of the present administration has paid off. Sourec: Twitter

“Regardless of what some elites, who I think are the beneficiaries of corruption, are saying, the anti-corruption efforts have been extremely successful,” he said.

He said Nigerians had never witnessed the recovery of looted funds as huge as the quantum the President Muhammadu Buhari administration had achieved in the last two years.

“In 2018, N500bn from what has been recovered is going to be used to fund the budget,” he added.

Meanwhile, a former vice chancellor of the University of Abuja and Sokoto State University, Professor Nuhu Yaqub, has decried the secrecy surrounding the looters of the nation’s treasury.

Speaking at the BuhariMeter Citizens town hall meeting held recently in Abuja, tProfessor Yaqub stated that Nigerians needed to know the quantum of money seized and what the money will be used for.

He said with the way the government is handing the issue, the seized looted funds could be returned to the looters by another regime.

How should convicted looters be punished? on - NAIJ.com TV