NLC Urges Buhari to Spend Recovered Loot on Infrastructure

The Nigeria Labour Congress (NLC) has asked the federal government to utilize the funds recovered from looters of public assets on rehabilitation of critical infrastructure to stimulate the country’s economy.

The federal government on Saturday partially fulfilled its promise to publish specific details of funds traced to and recovered from corrupt former government officials.

Although the names of the officials from whom the funds were recovered were not disclosed, details of the recoveries between May 29, 2015 and May 25, 2016 showed total cash at about N78.33 billion, $185.22 million, £3.51 million and €11,250, while recoveries under interim forfeiture, including cash and assets were N126.56 billion, $9.1 billion, £2.5 million and €303,399.17.

The report said anticipated repatriation from foreign countries totalled $32132 million, £6.9 million and €11,826.11.

But beyond the significance of the recovery on the fight against corruption, the NLC President, Ayuba Wabba, said focus should be on the bigger picture by ensuring that these monies were spent on construction of roads, development of power infrastructure, key industries and other sectors capable of stimulating the economy.