President Muhammadu Buhari has revealed that about $1bn was recovered from funds stolen from previous undemocratic administration.
The President stated this in an article published in Newsweek, a United States-based magazine.
Buhari, in his article, stated that the country could move forward with road, rail and power station construction, “partly under own resources, thanks to close to $1bn of funds stolen from the people of Nigeria under a previous, undemocratic junta in the 1990s that have now been returned to our country from the US, UK and Switzerland.”
The President added, “That the friendly nations agreed to return the funds after so long is a testament to the fact that, with our governance reforms, Nigeria is rightly seen as an increasingly stable and beneficial place to transact and invest.”
It would be recalled that, three weeks ago, Nigeria received $311m in repatriated Abacha loot from the United States and the Bailiwick of Jersey.