The Nigerian government in April said the recovered loots were being paid into dedicated accounts with the Central Bank of Nigeria, (CBN). Buhari, in his acceptance speech after he clinched the ruling All Progressives Congress presidential ticket on Saturday, said his administration has been spending the recovered money lost to graft on infrastructural structures. In February, he said the EFCC recovered as much as N500 billion in 2017 alone. Two months before in November 2017, he disclosed that the EFCC recovered about N739 billion within two years. The amount represents about 18 per cent of the N500 billion Magu said was recovered in 2017 and a little over 12 per cent of the N739 billion he said had been recovered within two years.

Source: The Guardian October 07, 2018 07:41 UTC