Former Labour Party (LP) presidential candidate, Mr Peter Obi, has said Nigerians should be able to feel and trace the impact of recovered looted funds.
He noted that such funds ought to be directed towards education, healthcare, and poverty reduction.
Obi’s comment followed the recent announcement by the Economic and Financial Crimes Commission (EFCC) that it recovered ₦853 billion from crime proceeds in the last year.
While commending the EFCC for its efforts, the former Anambra State governor said the real concern is whether the Federal Government will use the money in ways that directly benefit citizens.
Taking to his X handle, Obi wrote:
“The Economic and Financial Crimes Commission’s (EFCC) announcement that ₦853 billion has been recovered from crime proceeds within one year is a step in the right direction.
“The Commission deserves our commendation for this effort, even though we are aware it’s just a tiny fraction of the funds looted from the public treasury by the leaders.
“Beyond this recovery therefore, what truly matters is the utilisation of these funds in a verifiable and accountable manner, specifically in the critical areas of development, health, education, and poverty alleviation to benefit the people.
“Nigerians want to see impact. We must be able to trace where and how these recovered funds are invested.
“Currently, we have over 20 million out-of-school children in the country, the highest in the world. Similarly, we have the highest number of acute poor in the world, over a hundred million.
ALSO READ:Belly bin: Doctors remove 29 spoons, 19 toothbrushes, others from man’s stomach
“In both cases, it is worse in the North, and all efforts toward reducing the situation remain imperative. If these recovered funds and subsequent ones are strategically invested, they would immensely contribute to breaking the cycle of poverty, illiteracy, and insecurity.
“For example, the Federal Government 2024 operational budget for Universal Basic Education contribution is about N251.47 billion, so to triple this sum will be an additional N503 billion.
“The remaining N350 billion can be shared directly to 19 Northern provinces for lending micro credit to the poor. Most of these states have long been applying for as little as N2 billion of similar funding from our development banks.
“Let this not just be another announcement of recovery. Let it be the beginning of a new era of accountability, where every kobo retrieved is turned into classrooms, hospitals, skills, and opportunities for ordinary Nigerians.”