Kolawole Oluwadare, the Deputy Director of the Socio-Economic Rights and Accountability Project (SERAP), emphasized the importance of recovering looted funds within the nation.
In an interview with Punch, Oluwadare called on President Bola Tinubu to prioritize the investigation and recovery of these funds, stating that it would eliminate the necessity for borrowing and align with the best interests of Nigerians.
Oluwadare highlighted that successful recovery of looted funds could serve as a viable alternative to borrowing, benefiting the nation’s financial stability.
He said, “The Auditor General of the Federation is appointed by the President and answers to him, and he has produced a report that a huge amount of money cannot still be accounted for. The only thing the President can do if he really has the interest of Nigerians at heart is to ensure that this is investigated, and the funds are recovered. Perhaps, there may be no need to go about borrowing. There will be no need to borrow if we recover most of the looted funds.
“It raises the point about the Abacha loot that we are still getting funds but what about the internally looted funds that can be recovered to help us finance critical aspects of our budget and also to ensure that we do not only recover the looted funds but ensure that they are not re-looted and end up in pockets. We need a proper administration that is keen on fighting corruption and delivering the promise for the welfare of the people. This report from the Auditor General is a good path to mop up these looted funds that are not even outside the country to ensure that we put them to best use for the interest of the people.”