Looted funds being recovered are used to finance 2017 budget

According to the federal government, part of the stolen funds recovered from those that looted the economy is been used to finance the 2017 budget. While speaking at the 22nd annual conference of the Association of National Accountants of Nigeria (ANAN) in Abuja, President Buhari who was represented by the accountant general of the federation, Alhaji Idris Ahmed, said this. 

At the conference which held on Tuesday, October 10, he also said the decision had been collectively taken by the government to use some of the recovered stolen funds to finance the 2017 budget. According to Punch, Buhari said: “My administration has practically done much in delivering on its core focus of diversifying the economy. “Part of the stolen funds recovered is being used by government to finance the 2017 budget. Power generation has peaked at an all-time high of 7,001 megawatts in the third quarter of 2017.” 

On the matter of electricity, the president also disclosed that the government was aiming at the production of 10,000 megawatts of electricity by the year 2020. READ ALSO: Buhari govt was unaware that the USA was monitoring GEJ’s men - Foreign minister According to him, the firm implementation of the Treasury Single Account (TSA) since September 2015 had significantly enhanced transparency in the federal government’s public financial management system. 

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