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Published On: Tue, Aug 18th, 2015

10 Cases of Looting Buhari Can’t Ignore

President Muhammadu Buhari

President Muhammadu Buhari


LAGOS AUGUST 18TH (URHOBOTODAY)-The All Progressives Congress (APC) has described as spine-chilling and mind-boggling the massive looting of the nation’s treasury by public officials, saying nothing but the total recovery of the funds will be acceptable to all patriotic Nigerians.
In a statement issued in Lagos on Sunday by its National Publicity Secretary, Alhaji Lai Mohammed, the party said anyone who attempts, either by deeds or words, to sabotage the recovery efforts is not a patriot and deserves nothing but public opprobrium.

APC said it is necessary to remind Nigerians of the kind of massive looting of the treasury that took place in the past few years, so they can better appreciate the seriousness of the issue at stake. It therefore listed some instances of the looting as follows:
(1) 3.8 trillion Naira out of the 8.1 trillion Naira earned from crude oil (2012-2015) withheld by NNPC
(2) 2.1 billion US dollars from Excess Crude Account unaccounted for
(3) Department of Petroleum Resources’ unremitted 109.7 billion Naira royalty from oil firms
(4) 6 billion US dollars allegedly looted by some Ministers of the last Administration
(5)160 million barrels of crude worth 13.9 billion US dollars lost between 2009 and 2012
(6) 15 million US dollars from botched arms deal yet to be returned to Nigeria
(7) 13 billion US dollars in NLNG dividends mostly unaccounted for
(9)30 billion Naira rice waiver
(10) 183 billion Naira unaccounted for at the NDDC
The party said the listed ‘missing’ funds constituted just a tip of the iceberg since they are mostly from a few sectors of the economy, mostly the oil sector, and were discovered even before the forensic audit now being undertaken in some key areas.
”The level of looting that went on in other sectors is better imagined, hence the need for all Nigerians to rally around the Buhari Administration to recover the loots, bring the looters to justice and to put in place measures to prevent such looting in the future,” it said.

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