Financial Times FT.com

Africa


Nigeria recovers $3bn in unspent funds

ABUJA, Oct 1 - Nigerian President Umaru Yar’Adua said on Wednesday his administration had recovered $3.4bn in unspent capital from ministries and government departments as part of its drive to stamp out corruption.

In a national address to mark Nigeria’s 48th independence anniversary, Yar’Adua said the recovery of the funds was proof that his zero-tolerance policy on graft was having an effect in a country ranked among the world’s most corrupt.

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