FG To Invest Yakubu, Diezani Loot To Fund Welfare Scheme For The Poor

The Federal Government is set to invest some of the recently recovered funds on its social intervention programmes.


A top government official told Sunday Punch on Saturday that the $9m recovered from a former Group Managing Director of the Nigerian National Petroleum Corporation, Andrew Yakubu and the $153m forfeited by a former Minister of Petroleum Resources, Diezani Alison-Madueke, would be immediately used to fund the welfare scheme for the poor.


The official, who wished to remain anonymous, said the money would be used in paying the N30,000 monthly stipend to beneficiaries of the N-Power scheme, the job creation programme of the President Muhammadu Buhari administration; as well as the school feeding programme.




He said, “The National Economic Forum has been meeting and we are looking at the idea of investing the recovered funds on the social intervention programme which will gulp hundreds of billions of naira.”


The Federal Government is also on a mission to recover at least N399bn and $6.62bn in cash and assets from the high profile cases being prosecuted across the country.