The Special Adviser to President Muhammadu Buhari on Social Investments, Maryam Uwais has disclosed that 80per cent of the repatriated funds looted by Sani Abacha, former Head of State, for the Social Investment programme.
President Buhari initiated the Social Investment Programme in 2015 to push cash into the informal market.
Uwais said this during training on recovering illicit funds and assets in Abuja. She said the remaining 20per cent was from the World Bank‘s credits.
She said 18,200 of them had taken loans from the intervention while less than 1,000 had defaulted.
She said, “The funds for the social investments are from the World Bank and the Abacha loot. We are using the credit that we got from the World Bank in the ratio of 20:80. Eighty 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 in their homes.”