The Special Presidential Investigation Panel for Recovery of Public Property (SPIP) says it has recovered over N4 billion and 7 million dollars in cash as well as physical assets in its various operations. Obono-Obla said the 7 million dollars was recovered from the previous management of the Nigeria Export and Import (NEXIM) Bank who had“illegally placed” it in Heritage Bank. The assets, according to him, have since been returned to the bank. “The panel is investigating the failure of a contract awarded to a company to dredge Calabar Channel, after the company had received 12 million dollars,” he said. “Other assets recovered from him are six houses in highbrow areas of Abuja and a large farm also in Abuja,” he said.

Source: The Guardian October 12, 2018 15:45 UTC