FG to Spend N350bn Looted Funds to Implement Budget
mudeerat olawunmi
Amid complaints that Nigerians are not feeling the impact of the economic policies of the present administration, Vice-President Yemi Osinbajo has assured the public that the Federal Government is bent on revamping the Nigerian economy through its policies designed to diversify the economy.
Osinbajo, who spoke at the Policy Dialogue Forum on the economy at the 22nd Nigerian Economic Summit in Abuja yesterday, said there was need for government to inject more money into circulation to cushion the effects of the recession, and one of the ways through which government could achieve it is to inject the expected N350 billion that was looted by past governments into the Nigerian economy to fund the budget.
Although he said not all the money had been recovered, he explained that the amount already in the government coffers would be used to fund the budget.
“A good percentage of the stolen monies has been recovered, and we are still expecting about $400 million from the US and about $300 million from Switzerland.
“By the time all these monies are recovered, we will surely inject them into circulation to support budget funding,” Osinbajo said.
