President Muhammadu Buhari on Wednesday in Abuja urged the World Bank to facilitate the speedy recovery of funds recovered from the Abacha administration which is still in custody of the Swiss authorities. He said this in a meeting with the Managing Director of World Bank, Ms. Sri Mulyani Indrawati after receiving the delegation of World Bank officials early yesterday.

President Buhari urged that the recovery of the $320million would greatly help ease the current economic situation and hardship in the country and assured that the recovered funds would be appropriated justly into the economy.

“We need the support of the World Bank for the repatriation of the funds. We are as concerned as the World Bank about accountability. If such repatriated funds have been misapplied in the past, I assure you that the same will not happen with us. Three hundred and twenty million dollars is a lot of money and we will not allow it to be misappropriated or diverted,” President Buhari is reported to have stated according to the state house press release signed by the SSA to the President on Media and Publicity, Garba Shehu.

The statement further reports that, “one of the conditions given by the Swiss Authorities for the repatriation of the funds is that it should be expended on the implementation of social programmes for the benefit of the Nigerian people in an efficient and accountable way, guaranteed by the monitoring of the World Bank.”

The President’s Social Investment Plan included in the 2016 budget which includes Conditional Cash Transfer to one million severely poor Nigerians, among other plans, is already being implemented in conjunction with the World Bank to ensure transparency and efficiency as has been stated previously as the governing mandate of the Buhari administration.


Author: Aderonke Adeleke

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