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AGF CLARIFIES RECOVERED LOOTED FUNDS FIGURE, SAYS $105.9M, NOT $967.5BN

CapitalTimesNews / 4 weeks
0
2 min read

The Office of the Attorney General of the Federation and Minister of Justice has clarified that the federal government recovered $105.9 million and not $967.5 billion in looted funds. The clarification was made in a press release signed by Prince Lateef O. Fagbemi, SAN, Attorney-General of the Federation and Minister of Justice. According to Prince Fagbemi, the figure of $967.5 billion quoted by some media outlets is false and completely at variance from his remarks at the Asset Recovery Summit held on May 27 in Abuja. Fagbemi explained that the Economic and Financial Crimes Commission (EFCC) reclaimed over N248 billion, $105 million, and 753 duplexes in its asset recovery efforts, while the Independent Corrupt Practices and Other Related Offences Commission (ICPC) recovered N29.685 billion in cash and $966,900 in assets. Fagbemi further stated that from 2017 to date, the Federal Ministry of Justice working in collaboration with its counterparts and international partners has facilitated the execution of various agreements, leading to the payment of fines, recovery, and repatriation of assets in the sums of $763,734,000 USD, and £6,472,610 GBP. “Of these sums, a total of $102.88 million and £2,062,000 GBP was recovered from 2024 to date,” he added. The Attorney-General of the Federation emphasized that asset recovery is a fundamental pillar in the government’s strategy to address corruption, economic crimes, and illicit financial flows, which undermine national development. He noted that Nigeria has earned global recognition in the area of asset recovery and that the recovered funds are being managed through internationally recognized frameworks, including the United Nations Convention Against Corruption (UNCAC) and the Global Forum on Asset Recovery (GFAR) principles. The recovered funds have been invested in critical infrastructure development projects, including the Lagos Ibadan Expressway, 2nd Niger Bridge, and Abuja-Kano Road, as well as in healthcare and renewable energy projects. Fagbemi appealed to media outlets that reported the erroneous figure to correct the anomaly.

NO EXTRADITION PROCESS AGAINST SIMON EKPA – AGF FAGBEMI

CapitalTimesNews / 2 months

2 min read

The Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi, has denied reports that the federal government has commenced an extradition process against Simon Ekpa, a leader of the outlawed Indigenous People of Biafra (IPOB). In a statement signed by Special Assistant to the President on Communication and Publicity, Office of the AGF and Minister of Justice, Kamarudeen Ogundele, Fagbemi clarified that the reports were untrue and a departure from what he said at the Stakeholders/Citizen Engagement Forum. Fagbemi’s Special Assistant explained that the AGF had been engaging with Finnish authorities to ensure that Simon Ekpa is held accountable for his actions. “What the AGF said during the question and answer session was that the Nigerian government had been engaging with Finnish authorities to ensure that Simon Ekpa is held accountable for his actions,” Ogundele said. Ekpa is currently standing trial in Finland for charges filed against him by the Finnish government. Ogundele further stated that the Nigerian government eagerly awaits the outcome of the proposed trial in Finland to have an informed decision on the next step to take. “Since the crimes committed by Simon Ekpa were crossborder in nature, the Nigerian government eagerly awaits the outcome of the proposed trial in Finland to have an informed decision on the next step to take,” Ogundele added. The AGF’s office appealed to the media to be circumspect and avoid reporting speculations on the sensitive matter. Ogundele emphasized the need for accurate reporting, saying the media should avoid spreading misinformation.

RIVERS STATE GOVERNOR ACCUSED OF INCITING MILITANT ACTIVITY

CapitalTimesNews / 3 months

2 min read

The Attorney General of the Federation, Lateef Fagbemi, has made a startling allegation against Governor Siminalayi Fubara of Rivers State. Fagbemi claims that the governor effectively encouraged militant groups to vandalize pipelines in the state. Fagbemi’s assertion is based on a statement allegedly made by Governor Fubara, in which he hinted at a future call to action for the militants. According to Fagbemi, this statement was effectively a telegraphed message to the militants, which they subsequently acted upon. The AGF emphasized the gravity of this situation, given Nigeria’s heavy reliance on oil. “Any attack on our pipelines is not just an attack on Rivers State, but on the entire nation,” Fagbemi said. Fagbemi defended President Bola Tinubu’s decision to declare a state of emergency in Rivers State, citing the Supreme Court’s judgment as the basis for this action. The AGF argued that Governor Fubara and the state house of assembly had failed to maintain a stable environment for governance, necessitating their suspension. Fagbemi dismissed criticisms that the president’s action was premature, pointing out that the situation in Rivers State had become increasingly dire. “People are living in fear, and lives are being lost. This is an extraordinary situation that demands extraordinary measures,” Fagbemi said. The AGF noted that the National Assembly has the power to reverse the suspensions, but this would require a two-thirds majority vote. Fagbemi also suggested that the declaration of a state of emergency in Rivers State serves as a warning to other states, indicating that the government will take decisive action to maintain order and protect critical infrastructure.

US RETURNS $52.88 MILLION LINKED TO DIEZANI ALISON-MADUEKE

Nicolas Adekeye / 5 months

2 min read

The United States government has returned $52.88 million linked to former Nigerian Petroleum Minister Diezani Alison-Madueke. The amount was reportedly traced to assets forfeited by Galactica, connected to Madueke and her associates. US Ambassador Richard M. Mills Jr. and Nigerian officials, led by Attorney-General Prince Lateef Fagbemi, formalized the agreement at the Ministry of Justice in Abuja. The funds will be managed with transparency, under the supervision of the World Bank and International Institute for Justice (IIJ), to ensure their proper use in projects benefiting Nigeria. According to Fagbemi, “Measures have also been put in place to ensure that the repatriated funds are not only disbursed but also utilized transparently and accountably by the World Bank and IIJ, with periodic reports to be forwarded to Nigeria and the US on the implementation of the projects.” He added that this framework will guarantee that the funds are effectively used for the full benefit of the Nigerian people, in line with international anti-corruption standards. Madueke, who served as oil minister from 2010 to 2015, is alleged to have accepted financial rewards for awarding multi-million dollar oil and gas contracts. She has been charged with bribery offenses in the UK and has denied corruption allegations. Assets worth millions of pounds relating to the alleged offenses have been frozen as part of an ongoing probe by the UK’s National Crime Agency (NCA). The US Department of Justice has recovered assets totaling $53.1 million linked to Madueke’s alleged corruption, thanks to evidence provided by the NCA. The NCA worked closely with Nigeria’s anti-corruption agency, the Economic and Financial Crimes Commission (EFCC), which recovered about $153 million and more than 80 properties from Madueke last year.

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NIGERIAN PORTS AUTHORITY SETS...

GUNMEN HIJACK BENUE LINKS...

AFRICAN FUTURE DEPENDS ON...

WOMEN JOURNALISTS CALL FOR...

OHCSF DENIES PLOT TO...

EDO GOVERNOR PLEDGES 2.5...

NIGERIAN PORTS AUTHORITY SETS...

GUNMEN HIJACK BENUE LINKS...

AFRICAN FUTURE DEPENDS ON...

AGF CLARIFIES RECOVERED LOOTED FUNDS FIGURE, SAYS $105.9M, NOT $967.5BN

NO EXTRADITION PROCESS AGAINST SIMON EKPA – AGF FAGBEMI

RIVERS STATE GOVERNOR ACCUSED OF INCITING MILITANT ACTIVITY

US RETURNS $52.88 MILLION LINKED TO DIEZANI ALISON-MADUEKE

NIGERIAN PORTS AUTHORITY SETS AMBITIOUS REVENUE.

GUNMEN HIJACK BENUE LINKS BUS, KIDNAP.

AFRICAN FUTURE DEPENDS ON INTEGRATING INFORMAL.

WOMEN JOURNALISTS CALL FOR PASSAGE OF.

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