News
We’ll spend Abacha loot to eradicate poverty — Buhari
The Federal Government have announced that the $320m stolen funds by former late Head of State, Gen. Sani Abacha, would be spent on the Conditional Cash Transfer scheme of the administration to support the poor.
Declaring open the Eighth Commonwealth Conference of Anti-Corruption Agencies in Africa, Buhari, represented by Vice-President Yemi Osinbajo, said it was one condition given by the Switzerland authorities for the repatriation of the funds.
Buhari said that The Global Forum on Asset Recovery, after its inaugural meeting in Washington, DC, in December 2017, had facilitated efforts toward asset recovery and return.
“The GFAR saw the signing of a Memorandum of Understanding between Nigeria and the Government of Switzerland for the return of an additional $320m of the Sani Abacha loot.
“Included in that agreement is the commitment that the funds would be invested in one of Nigeria’s flagship social investment programmes, the Conditional Cash Transfer scheme targeted at the poorest and most vulnerable households in our country.’’
-
Football5 days agoSuper Falcons target World Cup play-off spot against South Africa
-
Business6 days agoBigi, Fearless take campus engagement to new level, reach 20 tertiary institutions
-
Featured3 days agoOsun 2026: What the battle could signal for 2027 general elections
-
Business5 days agoOPay transactions surge 115% to $358bn as Fintech eyes $4bn US IPO
-
Business4 days agoWho is really benefiting from Nigeria’s economic reforms?
-
Featured3 days agoOsun Election: How poverty turns ₦20,000 into a powerful vote-buying tool
-
Business5 days agoDeep offshore tax order to unlock $50bn investment, boost oil output–Ojulari
-
Aviation1 week agoAir Peace suspends flights as aviation unions block Lagos, Abuja terminals