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27 Dec 2018

How Federal Government spent $322m recovered from Abacha family

The Senior Special Assistant to the President on Media and Publicity, Garba Shehu, has explained how the $322m recovered from late Gen. Sani Abacha’s family is being utilised by the Muhammadu Buhari administration.

Shehu, in a statement obtained by the News Agency of Nigeria in Abuja on Wednesday, said the money was used to make the Conditional Cash Transfer of a monthly amount of N5,000 to more than 300,000 poor homes across the nation under the Social Investment Programme introduced by the Federal Government.

He added that the spending was in line with the Memorandum of Understanding signed between the governments of Nigeria and Switzerland as a condition for releasing the funds.

According to Shehu, as part of the MoU, the World Bank is monitoring the application of the funds, noting that the Bank has also given an additional facility to support the on-going cash transfers.

(NAN)

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