Buhari Says Budget To Be Financed With Recovered Loot

President Muhammadu Buhari has said that part of the stolen funds recovered from Nigerians who looted the economy would be used to fund the 2017 budget.

Buhari, represented by the Accountant General of the Federation, Idris Ahmed said this at the 22nd Annual Conference of the Association of National Accountants of Nigeria, ANAN, which held in Abuja on Tuesday.

“Part of the stolen funds recovered is being used by government to finance the 2017 budget.” he said.

He also said his administration had practically done much in delivering on its core focus of diversifying the economy.

In his words, “power generation has peaked at an all-time high of 7,001 Megawatts in the third quarter of 2017.”

According to him, his government was aiming at the production of 10,000 Megawatts of electricity by the year 2020.

He said the firm implementation  of the Treasury Single Account, TSA, since September 2015 had significantly enhanced transparency in the Federal Government’s Public Financial Management System.

ANAN Chairman of Council, Shehu Ladan, pledged the support of the association to the government’s economic agenda.

Ladan said, “The accountant is key. We are calling on our members to increase their integrity quotient. As an association, we are strengthening our discipline mechanism to ensure that members found wanting do not go unpunished.”

He said it was important for the government to ensure the reinvestment of the recovered stolen funds to make for quicker recovery of the economy.

  • Bright Bassey
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