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Maryam Uwais: 80% of social investment funds from recovered Abacha loot

Maryam Uwais: 80% of social investment funds from recovered Abacha loot
October 18
09:55 2019
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Maryam Uwais, special adviser to President Muhammadu Buhari on social investment, says 80 percent of funds for social investments come from the recovered Abacha loot. 

Uwais spoke on Thursday during a training and advocacy programme on tracing and recovery of illicit funds and assets in Abuja.

The training was organised by Human Environmental Developmental Agenda (HEDA) supported by MacArthur Foundation and Open Society Initiative for West Africa in collaboration with Kent Law School, The Corner House, Finance Uncovered and Premium Times Centre for Investigative Journalism.

She said the remaining 20 percent is credit from the World Bank.

The special adviser said beneficiaries of the social investment programme have been “very responsive and productive”.

She said over 18,200 of the beneficiaries have taken loans from the scheme while less than 1,000 defaulted in paying.

She added that they have been able to save about N567m.

“The funds for the social investments are from the World Bank and the Abacha loot. We are using the credit that we got from World Bank in the ratio of 20:80,” she said.

“80 percent from the Abacha loot so that we can pay the beneficiaries the amount that the government has pledged to help them.

“This has been quite proactive for them because we have seen a lot of activities in the communities. Today many of these women are doing their business, they are trading, and engaging in agriculture. They are doing very well at their homes.”

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