Why FG did not name looters in asset recovery list – Osinbajo

Why FG did not name looters in asset recovery list – Osinbajo
June 06 20:12 2016

Releasing the names of persons from whom the federal government has recovered looted funds and assets may jeopardize ongoing investigations, Vice President Yemi Osinbajo, has said.

While the government released a list of sums of monies and assets already recovered in the last one year, names of individuals involved were not included.

Osinbajo said this on Monday at a meeting with a delegation of the European Union led by the EU Ambassador to Nigeria, Mr. Michel Arrion.

“We have released the list of recovered loot, we know people are are asking for the names, but releasing the names may jeopardize ongoing investigations,” he said.

He said the federal government was engaging leaders and people of the Niger Delta regarding the spate of attacks on oil installations in the area, which, he said, was economic sabotage.

He said government was also reaching out to the people in the area and beefing up security to protect lives and facilities in the oil-rich region.

He said the focus of the present administration “is to ensure that the man on the street in the Niger Delta receives the benefit from all that is available there.”

Osinbajo also stressed the need for the leaders in the Niger Delta to be accountable to the people, adding that government was working round the clock to minimize the losses arising from attacks on oil installations.

“We are talking, we are ensuring that we minimize losses and we are stepping up security. We are also engaging the international oil companies to see what options exists,” he said.

On economic issues, the Vice President restated government’s commitment to drive its diversification policy and encourage investors to take advantage of the situation, especially in the agro-allied and processing industry.

He said government was determined to ensure that the ease of doing business ranking in Nigeria goes up by at least 20 steps in the World Bank rating.

To this end, Osinbajo said the President has approved the composition of a Presidential Commission on the matter to be chaired by him while the Minister of Industry, Trade and Investment would serve as Vice Chairman.

“In the next few months, we should be seeing some changes,” he said.

In his remarks, Ambassador Arrion said the visit was a follow-up on President Muhammadu Buhari’s meeting with EU leaders, adding that “Nigeria has a huge market we can invest in. It is also a place we can export from.”