The Federal Government says funds worth N120 billion recovered through the Proceeds of Crime (Recovery and Management) Law (POCA) 2022 has been spent on building expressways and bridges by the Buhari-led administration.
The Minister of Information and Culture Lai Mohammed made this known during the eight edition of President Muhammadu Buhari adminstration scorecard in Abuja on Wednesday.
President Muhammadu Buhari had in May signed the Proceeds of Crime (Recovery and Management) Bill, Money Laundering (Prevention and Prohibition) Bill, 2022 and the Terrorism (Prevention and Prohibition) Bill into law to improve the country’s anti-money laundering and counter-terrorist financing framework.
The President said his assent to the bills was in line with the endless commitment of his administration to end terrorism as well as other corrupt practices in the country.
The Minister said: “In line with the new law, all relevant government agencies have now opened ‘Confiscated and Forfeiture Properties Account’ with the Central Bank of Nigeria.
“The money is being used to fund the completion of ongoing critical infrastructure projects in the country like the Second Niger Bridge as well as Lagos-Ibadan and Abuja-Kano expressways”, Muhammed added.
