We are using recovered looted funds to finance 2017 budget – FG | Nigeria News Today. Your online Nigerian Newspaper f


The Federal Government is using part of the stolen funds recovered from those that looted the economy to finance the 2017 budget, President Muhammadu Buhari has said.

Buhari who spoke at the 22nd Annual Conference of the Association of National Accountants of Nigeria in Abuja on Tuesday was represented by the Accountant General of the Federation, Alhaji Idris Ahmed.

He said the government had resolved to use some of the recovered stolen funds to finance the 2017 budget.

Buhari said, “My Administration has practically done much in delivering on its core focus of diversifying the economy.

“Part of the stolen funds recovered is being used by government to finance the 2017 budget.

“Power generation has peaked at an all-time high of 7,001 Megawatts in the third quarter of 2017.”

The president also disclosed that his administration was aiming at the production of 10,000 Megawatts of electricity by the year 2020.

He said the firm implementation of the Treasury Single Account since September 2015 had significantly enhanced transparency in the Federal Government’s Public Financial Management System.

Speaking at the conference, ANAN Chairman of Council, Alhaji Shehu Ladan, pledged the support of the association to the government’s economic agenda.

Ladan said, “The accountant is key. We are calling on our members to increase their integrity quotient. As an association, we are strengthening our discipline mechanism to ensure that members found wanting do not go unpunished.”

He said it was important for the government to ensure the reinvestment of the recovered stolen funds to make for quicker recovery of the economy.

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  1. Thief steal am, Thief collect am.

    Hallmark of the Buhari-led APC government.

  2. thief steal how much ??????????
    we will tell our children that faceless thief stole our money ,the gov of naija in 2015 to 2017 collect the money how much we don't know and they have used the money ,on what project we don't know, yet state gov and some civil servants and pensioners have not been paid ,well we are telling the world that we are practicing democracy, hahahaha na better change we de ,

  3. You are using the recovered loot to refinance the 2017 budget and you are planning to borrow $3b for the same purpose? Who is deceiving who here?


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