President Buhari says Nigeria’s looted funds still garnered in United States, Europe

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President Muhammadu Buhari has said that money stolen from Nigeria is stashed in major European cities, the United States and other havens round the world.

He made the speech act on Mon, Nov 12, during an interactive session with the Nigerian community in France, The Punch reports.

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A statement by his special adviser on media and publicity, Femi Adesina, made available to journalists in Abuja, read that Buhari blamed the elites for allegedly looking away while the money which could have been invested in the education sector was stolen.

The president stated that Nigeria’s current education budget which stands at 5% was inadequate and far off the 26% recommended by the United Nations.

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He however assured Nigerians that his administration was committed to improving the education sector just as it had improved roads and rail lines.

“We are currently reviewing investments in the entire infrastructure of the country like road, rail and power, including investing more in education. We will certainly need to do more in education,” Buhari said.

The president said the stolen money could have made a difference if it was spent on education.

“My frustration is that some people still have plenty of stolen money stashed in Europe, US and other countries,” he said.

The president appealed to elites both at home and abroad to help develop the education sector by contributing to support the government.

Meanwhile, President Muhammadu Buhari has given condition for the restructuring of the country saying it must be well defined before it can be done for the interest of all Nigerians.

The Nation reports that the president made this comment during an interactive session with Nigerians living in France on Monday, November 12.

He said the issue of restructuring has to be properly explained and in what form it should be. The president also said the diaspora community cannot participate in elections for now but said this will happen in the future.

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