News President Buhari releases $311m Abacha loot to NSIA

President Buhari releases $311m Abacha loot to NSIA

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President Buhari releases $311m Abacha loot to NSIA

 

 

 

 

 

 

 

The Federal Government has released $311 million recovered assets to the Nigeria Sovereign Investment Authority, NSIA, for three Presidential Infrastructure Development Fund (PIDF) Projects

The Managing Director of NSIA, Uche Orji made this disclosure at a virtual meeting with newsmen to discuss the 2019 audited financial statement of the agency

“The Federal Government has transmitted $311 million recovered asset to the NSIA. This was facilitated by the legal counsel of  the NSIA.” he stated.

According to him, the money is domiciled in cash with the Central bank of Nigeria in a special account.

Mr Orji said the NSIA “hopes to start using the money in the third quarter of 2020 on some critical infrastructure projects like the Second Niger Bridge, Lagos Ibadan Expressway and Abuja-Kaduna-Kano Expressway.” 

President Buhari releases $311m Abacha loot to NSIA President Buhari releases $311m Abacha loot to NSIA
President Buhari releases $311m Abacha loot to NSIA
Parrot Nigeria
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