All recovered looted funds, whether in foreign or local currency are lodged into accounts created for that purpose with the Central Bank of Nigeria.
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Releases from those accounts are only effected with mandates from the federal ministry of finance.
National assembly correspondent Lami Ali reports that the Attorney General of the Federation and the Accountant General of the federation disclosed this to the House Committee investigating utilization and management of recovered looted funds and assets.
Seunmanuel Faleye is a brand and communications strategist. He is a covert writer and an overt creative head. He publishes Apple’s Bite International Magazine.
