The Federal government yesterday disclosed that the balance of the loot recovered from the late former Head of State ,General Sani Abacha, as at the end of November this year is $26, 000, 389 million and £19,000, 033 million.
Briefing State House Correspondents yesterday after the National Economic Council (NEC) meeting presided over by Vice President Yemi Osinbajo, Benue State governor, Samuel Ortom ,said the Accountant-General of the Federation, Ahmed Idris, disclosed this to the council.
“We were also briefed on updates on Abacha loots in Council. The Accountant General of the Federation reported that the dollar account as at November 2015 ending has a balance of $26, 389, while the pounds sterling has a balance of £19, 033, 000.00, That is where we are today,”he said.
On his part, governor of Sokoto State, Aminu Tambuwal, also disclosed that drop in the oil prices has caused serious pressure on Nigeria’s reserve which currently stands at $29 billion.
“The CBN governor gave an update on monetary policy measures on foreign exchange strategy and he told the Council the challenges being faced by many countries as a result of the global economy recession. He also reported that the drop in the oil prices has caused serious pressure on Nigeria’s reserve which currently stands at $29 billion.
“The deduction of cash reserve ratio from 25 per cent to 20 per cent . The measure on forex market and BVN considering the introduction of debit card for travellers instead of cash exchange demands to reduce cash for illicit businesses, and also looking at option to diversify the economy away from oil ,” he said.
Governor Darius Ishaku of Taraba in his own briefing said the Accountant General of the Federation reported to Council that the ECA stood at $2.257 billion as at the end of November, 2015.
