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Home | FG Seizes N45 Billion Looted Funds From National Treasury

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FG Seizes N45 Billion Looted Funds From National Treasury

Daily Report Nigeria
Daily Report Nigeria
Published: June 15, 2025
Last updated: June 15, 2025
2 Min Read
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FG Seizes N45 Billion Looted Funds From National Treasury
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President Bola Tinubu-led Federal Government has disclosed that it has seized over N45 billion illegally embezzled from the national treasury.

The Attorney-General of the Federation and Minister of Justice, Mr. Lateef Fagbemi, SAN, who disclosed this, said the government has also identified and designated several individuals and entities linked to terrorist activities.

He also revealed that funds traced to these individuals have been confiscated.

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The minister stated this during the 40th Technical Commission/Plenary Meeting of the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA), held at the State House, Abuja.

He said, “We now have over 1,500 officers dedicated to investigating and prosecuting money laundering across these three agencies alone.

“This sustained investment has led to increased numbers of investigations, prosecutions, and convictions consistently since 2021, with 5,118 investigations, 1,509 prosecutions, and almost 500 convictions secured, resulting in over 45 billion naira of illicit proceeds seized.

“We have also made progress in tackling the financing of terrorism and in particular, I am pleased that we have identified and designated a number of individuals and entities linked to terrorist activity and seized funds linked to them.

“The Nigerian Financial Intelligence Unit (NFIU) has become a global model and achieved the outcomes envisaged by the passage of its enabling legislation in 2018, which established it as an independent, autonomous unit.

Also Read: Tinubu Does Not Make Noise Over Security Exploits – Ribadu

“The Unit has significantly expanded the scope of financial intelligence it has access to and provides to other competent authorities.

“The Unit has also put in place a number of innovative technologies, including the Crime Records Information Management System (CRIMS), which has transformed our approach to intelligence sharing.”

READ ALSO: Ex-Ogun Governor, Ekundayo Opaleye Dies

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