Malami rejects call to pay recovered loot into federation account

Abubakar Malami, the Attorney General of the Federation (AGF), has rejected a call to pay recovered loot into the Federation Account. This is according to a report by The Punch.

The report states that Malami made this known while speaking at a conference organized by the Nigerian Bar Association (NBA) in Abuja. He argued that the recovered loot is not a revenue that belongs to the Federal Government, but rather a recoverable asset that belongs to the government and the people.

Malami explained that the recovered loot is the result of the efforts of the government to recover stolen assets, and that it is not a revenue that can be shared among the three tiers of government. He also stated that the recovered loot is not a substitute for the government's revenue, but rather a supplement to the government's revenue.

The AGF's position is in response to a call by some stakeholders for the recovered loot to be paid into the Federation Account, which is the account where the revenue generated by the Federal Government is kept. The stakeholders had argued that the recovered loot is a revenue that belongs to the Federal Government and should be paid into the Federation Account.

However, Malami's position is that the recovered loot is not a revenue that belongs to the Federal Government, but rather a recoverable asset that belongs to the government and the people. He argued that the recovered loot should be used to benefit the people and the government, rather than being paid into the Federation Account.

It is worth noting that the recovered loot is a significant amount of money, and its use is a matter of controversy. Some people have argued that the recovered loot should be used to benefit the people and the government, while others have argued that it should be paid into the Federation Account. The AGF's position is that the recovered loot should be used to benefit the people and the government, rather than being paid into the Federation Account.