The Federal Government has stated that it was using part of the recovered stolen funds to finance the 2017 budget.
President Muhammadu Buhari made this disclosure at the 22nd Annual Conference of the Association of National Accountants of Nigeria in Abuja on Tuesday.
The president, who was represented by the Accountant General of the Federation, Alhaji Idris Ahmed, said the government had resolved to use some of the recovered stolen funds to finance the 2017 budget.
Buhari said, “My Administration has practically done much in delivering on its core focus of diversifying the economy.
“Part of the stolen funds recovered is being used by government to finance the 2017 budget.
“Power generation has peaked at an all-time high of 7,001 Megawatts in the third quarter of 2017.”
Buhari also added that his administration was aiming at the production of 10,000 Megawatts of electricity by the year 2020.
Speaking at the conference, ANAN Chairman of Council, Alhaji Shehu Ladan, pledged the support of the association to the government’s economic agenda.
Ladan said, “The accountant is key. We are calling on our members to increase their integrity quotient. As an association, we are strengthening our discipline mechanism to ensure that members found wanting do not go unpunished.”