President Buhari initiated the Social Investment Programme in 2015 to
push cash into the informal market.
Maryam Uwais, the Special Adviser to President Muhammadu Buhari on
Social Investments, has disclosed that 80% 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 20% 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.”