President vows to recover Nigeria’s stolen funds

Buhari repeated the commitment on Wednesday, October 28, 2015, while addressing members of the Nigerian community in New Delhi, India.

President Muhammadu Buhari has confirmed the determination of his government to recover funds stolen from the country by corrupt officials.

Buhari repeated the commitment on Wednesday, October 28, 2015, while addressing members of the Nigerian community in New Delhi, India.

The president’s comments were contained in  a statement released by his Special Adviser on Media and Publicity, Femi Adesina.

President Buhari arrives India

The statement reads:

Buhari Approves N413.7bn Bailout Funds for Federal Government, States

President Muhammadu Buhari has taken action to end the lingering crisis of unpaid workers’ salaries in the country, especially in several states of the federation, The Newly sworn in President  has approved a comprehensive relief package designed to salvage the situation.

In addition to the direct cash bailout, the three tiers of government will be sharing $1.7 billion from the Excess Crude Account (ECA), effectively emptying the account meant to shield the economy from exogenous shocks.