Recovered Loot: Presidency Speaks On Why FG Failed To Name Looters

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The Federal Government on Saturday announced that it had made cash recoveries totaling N78,325,354,631.82; $185,119,584.61; £3,508,355.46 and €11, 250, from looters of public treasury, from May 29, 2015 to May 25, 2016.

READ ALSO: FG Publishes Details Of Recovered Assets, Withholds Names Of Looters

However, the President Muhammadu Buhari led government failed to print out to the public, the names of those who looted from the national treasury as earlier promised.

With regard to this, a reliable information gathered from an impeccable source, stated that names of looters were not published because of the need to avoid destabilising the cooperation being enjoyed in the recovery of the looted assets.

READ ALSO: Nigerians Wait In Vain As Buhari Fails To Publish Details Of Looters, Recovered Loots

Vanguard Newspaper quoted a top Presidency source as saying:

“This thing is ongoing and one of the reasons why we did not release the names was that without going to court we were able to retrieve all that amount of money. If you release names, other people who want to do voluntary returns will not do so. What we need is the money and not the names”.

“Secondly, many of those who returned the money are not necessarily guilty. For instance, if my party gave me money to go and campaign in an election, how am I to know that that money was from an illicit source?

“For instance if money is given to a newspaper for publication, you cannot criminalise the newspaper because it did not know where the money came from. If the newspaper returns the money would it be fair to publicise the name of the newspaper.

“If you listen to the mob you will just end up in the ditch. The practical thing is that we want more money to come in. And we don’t even know what are the terms of the agreement by which anybody returned money.

“So, for those who are saying that we ought to release the names, they got it completely wrong; it would be counterproductive. In fact, some people could go to court suing us for defamation and libel and then the whole essence would be lost and all people would be talking would be about the court cases. That is not what Nigeria needs now. What Nigeria needs now is to be focused and

“we believe we have taken the right step in letting Nigerians know how much has been recovered, $9 billion without going to court”.



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