House of Reps rejects FG’s plan to share Abacha loot

The House of Representatives has rejected the plan by the federal government to share the recovered $320 million Abacha loot to poor families in the country.

Channels TV reports that the lawmakers during plenary on Wednesday, July 4, questioned how the federal government plans to determine which families are the poorest.

The House insisted that the federal government cannot spend the money without the parliament’s approval.

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It recommended for the fund to be paid into the consolidated revenue fund and distributed to federating units in line with the current revenue sharing formula.

The lawmakers also resolved to investigate all the recovered Abacha loot from 1998 till date to ascertain how the money was disbursed.

The Buhari administration had in June disclosed that it will disburse the recovered money to 302 poor households in 19 states, starting from July.

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The government described the plan as part of its social investment programmes aimed to lift millions of Nigerians out of poverty.

Meanwhile, Senator Shehu Sani representing Kaduna central in the National Assembly has advised President Muhammadu Buhari to spend the $320m recovered Abacha loot on projects Nigerians can see.

The senator faulted the federal government’s plan to disburse the recovered loot to the poorest of Nigerians under the conditional cash transfer (CCT) scheme.

The lawmaker said the money will end up with cronies of the government if it was disabused under the scheme.

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Source: Legit.ng