Featured Finance

Ex-CBN Director tasks FG on $311m Abacha loot

Dr Titus Okunrounmu, a former Director of Central Bank of Nigeria (CBN), has urged the Federal Government to invest the recovered 311 million dollars Abacha loot in building critical infrastructure in Nigeria.

Okunrounmu, who was Director, Budgetary Department of CBN said this in Ota, on Tuesday.

He said that spending the money wisely will encourage the international community to assist the federal government in recovering more looted funds.

Okunrounmu applauded the President Muhammadu Buhari’s administration for recovering the money which past administrations were not able to recover.

He also urged federal government to spend the money transparently so that Nigerians would know what it was used for.

“Whatever the money is being spent on, should be made clear to the public.

“Spending the 311 million dollars wisely will encourage the international community to assist the federal government to recover more looted funds,” he said.

Okunrounmu said the federal government should allow the money to go through the normal budgetary process so as to enhance accountability.

Related posts

NGOs call for promotion of food fortification compliance, workforce nutrition  

Editor

Popular actor Saint Obi dies after protracted illness

Editor

Nigeria imports $3.49bn fish, eggs, milk, others

Our Reporter

Chartered Institute of Arbitrators charges new members on professional ethics

Editor

Telcos raise data rates, FG’s Internet target threatened

Our Reporter

EKEDC building ‘dream team’ — Official

Meletus EZE