The Federal Government recovered N34.346 billion and $1.62 million between 2019 and 2021 and saved N261 billion over the same period in 2019 through its launch of the Independent Corrupt Practices Commission (ICPC) Constituency and Implementation Project Tracking Initiative.
Information Minister Lai Mohamed disclosed this at a press conference, highlighting the progress made by the federal government in the fight against corruption.
This is done between 2019 and 2021 and ICPC is tracking 2,000 projects worth over 300 billion naira.
The Minister's View on Asset Recovery
The Minister commended ICPC for playing a key role in achieving structural changes in government operations, particularly in improving MDA budget utilization, better value for money, improved project completion, service delivery and increased anti-corruption awareness
"Gentlemen, recall that the Commission established the Constituency and Implementation Project Tracking Initiative in 2019 to ensure value for money and full implementation of projects by the Nigerian people.
"From 2019 to 2021, the ICPC tracked 2,000 projects worth over N300 billion. During the same period, 326 abandoned project contractors in six geopolitical zones were compelled by the Commission to return to site to complete projects worth N32.183 billion.
"In addition, ICPC's Asset Tracking, Recovery and Management (ATRM) program recovered a total of N34.346 billion and $1.62 million in cash between 2019 and 2021," Mohammed said.
He revealed that the ICPC's systematic study and review of MDA's personnel and capital voting saved the government NLG 261 billion between 2019 and 2021, with 66 convictions out of 243 cases brought to court in the same three-year period.
Recall Nairametrics reported last year that BudgIT Nigeria, a civil technology NGO, revealed that the 2021 budget had many loopholes, citing 316 duplicate capital projects totaling 39.5 billion naira, a 14 percent increase in security sector allocations, but no audits were conducted over five years and many others.