Afrigather The Nigerian authorities says it had realised at the very least N120 billion as proceeds from felony monetary operations for the reason that Invoice on Proceeds of Crime Restoration Administration was signed into legislation earlier this 12 months by President Muhammadu Buhari.
The Minister of Info, Alhaji Lai Mohammed, made the announcement at a information convention when the Minister of Atmosphere offered the scorecard of the ministry underneath the Buhari administration in Abuja on Wednesday.
Mohammed stated, “I’ve an replace on the Proceeds of Crime (Restoration and Administration) Act (POCA), 2022. According to the brand new legislation, all related authorities businesses have now opened ‘A confiscated and Forfeiture Properties Account with the Central Financial institution of Nigeria (CBN).
“I can verify that the Federal Authorities has realized over 120 billion Naira, amongst different currencies, from POCA.
“This cash will likely be used to fund the completion of ongoing important infrastructure initiatives within the nation just like the Second Niger Bridge in addition to the Lagos-Ibadan and Abuja-Kano Expressways. We’ll proceed to replace you on this,” the Info Minister stated.
