The Federal Government on Wednesday said it had recovered over N120bn from the proceeds of crime following the implementation of the Proceeds of Crime (Recovery and Management) Act, 2022.
Minister of Information, Alhaji Lai Mohammed, made the disclosure at a news briefing where Minister of Environment presented the scorecard of the ministry under the Buhari administration in Abuja, yesterday.
Mohammed said: “I have an update on the Proceeds of Crime (Recovery and Management) Act (POCA), 2022. In line with the new law, all relevant agencies of government have now opened ‘Confiscated and Forfeiture Properties Account with the Central Bank of Nigeria, CBN.
“I can confirm that so far, the Federal Government has realised over N120 billion, among other currencies, from POCA. This money will be used to fund the completion of ongoing critical infrastructure projects in the country such as the Second Niger Bridge as well as Lagos-Ibadan and Abuja-Kano Expressways. We will continue to update you on this,” he added.
