Dr Titus Okunrounmu, a former Director of Central Bank of Nigeria (CBN), has urged the Federal Government to invest the recovered 311 million dollars
Dr Titus Okunrounmu, a former Director of Central Bank of Nigeria (CBN), has urged the Federal Government to invest the recovered 311 million dollars Abacha loot in building critical infrastructure in Nigeria, NAN is reporting.
The Federal Government on Monday confirmed the receipt of the sum of $311.7 million from the United State Government and the Bailiwick of Jersey as part of the money looted and stashed away by former Nigerian leader, Gen. Sani Abacha. The drawdown of the huge cash, which is referred to as ‘Abacha Loot 3’, was confirmed by the Attorney General of the Federation.
Okunrounmu, who was Director, Budgetary Department of CBN said that spending the money wisely will encourage the international community to assist the federal government in recovering more looted funds.
While applauded the President Muhammadu Buhari’s administration for recovering the money which past administrations were not able to recover. He also urged federal government to spend the money transparently so that Nigerians would know what it was used for.
“Whatever the money is being spent on, should be made clear to the public. Spending the 311 million dollars wisely will encourage the international community to assist the federal government to recover more looted funds,” he said.
Okunrounmu said the federal government should allow the money to go through the normal budgetary process so as to enhance accountability.
