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Tuesday, 18 December 2018

You Should’ve Used The Recovered Loot To Curb The Increasing Wave Of Poverty In Nigeria- Femi Falana Shades Buhari

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Femi Falana (SAN), a Human rights lawyer, has attacked President Muhammadu Buhari’s administration for failing to address the increasing poverty in Nigeria.

Falana stressed that Buhari should have deployed the looted trillions of naira it recovered through the whistleblower policy, Treasury Single Account and Bank Verification Number, to address the increasing wave of poverty in the land.
He stated this on Monday at the second anniversary of the whistleblower policy organized by the African Centre for Media and Information Literacy, in Abuja.
Falana said, “Apart from boasting about the success recorded so far in the implementation of the TSA, BVN and whistleblower policies, the trillions of naira which have been saved or recovered by the Federal Government have not been deployed to arrest the increasing wave of poverty in the land.”
Falana pointed out that the Nigerian National Petroleum Corporation (NNPC) had withheld $20bn from the federation account according to the information he obtained from the National Extractive Industry Transparency Initiative (NEITI).
He added that from the 2015 audit exercise conducted by NEITI, the figure had increased to $22bn and N376bn.
He added, If the investigation can be painstakingly conducted, it is estimated that not less than $300bn could be realised as the costs and penalties for the oil stolen from Nigeria and discharged in several ports in the United States, China, India, United Kingdom, France.”
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