The Federal Government, yesterday, disclosed that looted funds totalling $967.5 billion and N277 billion have been recovered in cash and assets. Meanwhile, President Bola Tinubu said that his administration would ensure that every stolen asset from the country is recovered. He made the assertion, yesterday, in Abuja while declaring open a Summit on Asset Recovery.

Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), said the recovery was made in 2024 alone. According to him, whereas the Economic and Financial Crimes Commission (EFCC) reclaimed over N248 billion, $105 million and 753 duplexes in its asset recovery efforts, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) recovered N29.685 billion in cash and $966,900 in assets.

The AGF made the revelation at the Asset Recovery Summit, which the Ministry of Justice organised in Abuja, where the National Central Database of Forfeited Assets was unveiled.

He said the National Drug Law Enforcement Agency (NDLEA) equally intensified its efforts in seizing assets linked to drug-related crimes, ensuring that illicit proceeds do not fuel further criminal activities.

“Asset recovery is a fundamental pillar in our collective fight against corruption, economic crimes, and illicit financial flows that undermine our national development, as it serves as a deterrent and also deprives criminals of the benefit of their criminal act.

“The Federal Government has remained resolute in its pursuit of transparency, accountability, and the rule of law, recognising that the effective recovery and management of assets are crucial to restoring public trust and fostering sustainable economic growth,” he said.

According to Tinubu, asset recovery is a vital tool in our anti-corruption strategy as it is not merely a legal exercise but a moral obligation.

“Recovering stolen public funds and channelling them towards developmental needs represents both justice and restitution. It is about restoring the people’s trust and ensuring that every kobo of our national wealth works for the common good.

“Asset recovery sends a clear and unwavering message that there will be no safe haven for corruption in Nigeria and it served as a deterrent, a symbol of accountability and a practical tool to rebuild national confidence in public institutions,” he said.

He also said that his administration had prioritised the use of recovered assets in financing critical infrastructure such as the Lagos -Ibadan Expressway, the Second Niger Bridge and the Abuja-Kano Expressway.