We Have Spent All ‘Abacha Loot’ – Buhari Shocks Nigerians

President Muhammadu Buhari, on Wednesday, explained how his administration has expended the $322million recovered from late Gen. Sani Abacha’s family.

In a statement by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, Mr Buhari said the money was used to make the Conditional Cash Transfer of a monthly amount of N5,000 to more than 300,000 poor homes across the nation under the Social Investment Programme.

He added that the spending was in line with the Memorandum of Understanding signed between the governments of Nigeria and Switzerland as a condition for releasing the funds.

According to Mr Shehu, as part of the MoU, the World Bank is monitoring the application of the funds, noting that the Bank has also given an additional facility to support the on-going cash transfers. NAN

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