The Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), on Tuesday, said that looted funds recovered by the Federal Government were judiciously utilised for high-impact public-oriented project.

A statement signed by the Special Assistant on Media and Public Relations to the minister, Dr Umar Gwandu, and made available to newsmen said the major amount recovered, under the administration of President Muhammadu Buhari, which was the $322 million recovered from Swiss were transparently and judiciously utilised for the projects specified in the agreement by the parties involved; the Swiss Government and the Federal Government of Nigeria.

Malami said the application of the fund was monitored by the World Bank and the Civil Society Organisations (CSOs) in the areas of Social Investment Programmes, including N-power, School-feeding and associated interventions overseen by the office of Vice President, Yemi Osinbajo (SAN).

He said, “The money was judiciously applied for the purpose for which it was meant for and none of the parties; neither the Swiss government nor the World Bank, much less of the Civil Society Organisation raised any question regarding reputation relating to the application of the funds.”

According to the Minister, looted funds expected from the United States of America and the Island of Jessy are yet to be received by the government, “so the issue regarding embezzlement or misappropriation of same is an imaginary illusion which does not even arise as the money has not yet been repatriated to Nigeria.”

He noted that the transparency and accountability over the looted assets can best be appreciated with particular reference to the 2003 agreement brokered by the Peoples Democratic Party (PDP) government, adding that the question of liability and accountability raised by a human right lawyer, Femi Falana (SAN) can best be answered by the implications of the 2003 agreement.