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November 22, 2017
Buhari Sets Up Committee To Audit Recovered Loot
President Muhammadu Buhari on Wednesday inaugurated a 3-man committee to audit recoveries of stolen funds made by the Federal government.
Members of the committee include Mr. Olufemi Lijadu, Mrs. Gloria Chinyere Bibigha and Mr. Mohammed Nami.
The President in his remarks during the inauguration of the committee at the State House, Abuja, stressed that the move is to bridge the gaps that exist in the process of recovery of stolen assets within and outside Nigeria.
“The decision to inaugurate this Audit Committee on the Recovery and Management of Stolen Assets within and Outside Nigeria today is therefore the next step in ensuring that all returns filed by the various agencies are accurate and consistent with actual recoveries made”.
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“In the course of implementing this exercise and given the number of agencies who are concurrently pursuing specialized initiatives and making recoveries for Government, it has become obvious that fundamental gaps still exist in ensuring that the recovered assets are accounted for, and managed in an accurate, transparent and logical manner”, he added.
The President tasked the committee to use every available laws to achieve results within the 4-week time frame, before reports are submitted.
“Where it becomes necessary, the Committee will of course rely on existing laws to compel the production of information and will also have the benefit of necessary interventions by the Attorney-General of the Federation and Minister of Justice in obtaining such information through legal processes, where so required”.
“The Committee, in essence, is therefore expected to judiciously undertake an audit of all recovery accounts established by government agencies from the date of opening such accounts up to 10th April 2017”.
President Buhari has however directed MDAs, banks and companies to support and cooperate with the newly inaugurated Audit Committee on Recoveries made by FG agencies.
“I hereby direct and request all relevant Ministries, Departments and Agencies, Banks, and Companies to give the Committee full cooperation as your assignment is crucial not only to the harvesting of needed resources for our national development but also in setting out a fresh template of public accountability”, he stated.
Photo Credit: The Presidency
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