Politics FG sets up committee to manage recovered N37.4bn Abacha loot - National Mirror

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The Minister of Finance and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, yesterday confirmed the payment of Euro 167m (N37.4bn) from the Government of the Principality of Liechtenstein and how government intended to manage it.

A statement by the minister’s Special Assistant, Paul Nwabuikwu, in Abuja indicated that President Goodluck Jonathan would constitute an inter-ministerial committee to identify the best projects and programmes in which to invest the funds for proper utilisation.

The minister also stated that the President had directed that part of the funds should be saved in the Future Generations Fund, one of the funds managed by the Nigerian Sovereign Investment Authority, NSIA, to secure the economic future of Nigerian youths and unborn Nigerians.

According to her, as part of the terms of the agreement reached with the Principality of Liechtenstein, the World Bank will assist in monitoring the utilisation of the funds in specific projects.

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Source: #NationalMirror Newspaper
 
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