Fund Managers

FG Engages CSO to Monitor Implementation of $311m Recovered Fund

The Federal Executive Council on Wednesday approved the engagement of a Civil Society Organisation, CSO, for monitoring the implementation of over $311million recovered in February 2020.

This is contained in a statement by Dr. Umar Jibrilu Gwandu, Special Assistant on Media and Public Relations, Office of the Attorney-General of the Federation and Minister of Justice in a statement made available to newsmen on Thursday.

According to him, the purpose of the involvement of CSO was to increase transparency in the management of recovered funds.

The statement said the approval came after a presentation made by the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN on the competitive bidding process involving 17 Nigeria and international CSOs and Businesses.

“The Federal Executive Council approved the award of the consultancy monitoring of the projects; 2nd Niger Bridge, Abuja to Kano Express Way and Lagos to Ibadan Expressway to CLEEN FOUNDATION, a Nigerian based CSO.

“The selection process included the participation of the other two countries that signed the Tripartite Agreement for the return of the Abacha three stolen assets; United States of America and the Bailiwick of Jersey.

“This engagement is in line with President Buhari’s commitment to Open Government and the principles of The Global Forum on Asset Recovery, GFAR, as well as the UN Convention Against Corruption provisions on Asset Recovery,” the statement noted.


Related Articles

Leave a Reply

Back to top button