• Friday, March 29, 2024
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FG yet to recover $62b debt from IOCs – Malami

FG yet to recover $62b debt from IOCs – Malami

The attorney-general of the federation and minister of justice, Abubakar Malami says the Federal Government is yet to recover the $62 billion debt from multinational oil companies.

A statement from the minister’s office, on Wednesday, however, noted that in the last one year, it has identified and vigorously pursued the recovery of the money from the International Oil Companies (IOCs).

Umar Gwandu, special assistant on media and public relations in the minister ‘s office, who signed the statement, said the clarification became necessary in view of the need to clear the misinformation caused by some reports where the Malami was misquoted to have said that such amount was recovered.

Read also: Outlook for the oil market remains dependent on considerable uncertainties in 2021

Presenting the scorecard of the activities and achievements of the federal ministry of justice at a one-day workshop for judiciary correspondents on Tuesday, Malami noted that as part of effort to recover funds for the federal government his office identified and pursued such recovery with a view to have more funds for the execution of high-impact people-oriented projects in the country.

“The office of the attorney-general of the federation and minister of justice reiterated commitment to justice sector reform, fight against corruption, strict adherence to the rule of law and entrenchment of democratic principles in the best interest of the Nigerian public,” the statement noted.