Recover Looted Wealth To Fund Budget –- Falana SAN – TheNigerialawyer

Human Rights lawyer Femi Falana (SAN) has told the Federal
Government to embark on a drive to recover Nigeria’s looted wealth
to garner resources to fund the 2020 budget.

Falana made the assertion in an interview with a correspondent
of the News Agency of Nigeria (NAN) at Imota, near Abeokuta on
Sunday.

He said the Nigerian Government must urgently seek other means
of generating funds to complement the N10.33 trillion 2020 budget
recently unveiled by President Muhammadu Buhari.

According to him, the N10.33 trillion budget presented by Buhari
is not enough to stimulate the rapid development expected by
Nigerians.

“From the budget breakdown, N2.5 trillion has been earmarked to
service debt; about 70 per cent of the balance would go for paying
salaries and recurrent expenditure while the remaining 30 per cent
will hardly be enough for necessary developmental projects.

“The budget is not sufficient and so the government must look at
other areas to generate more wealth for the country and embark on a
serious drive to recover looted wealth.”

According to him, there may also be need to increase tax but it
should not be now that Nigerians are facing economic hardships.

Falana, however, charged the president and other public office
holders to cut down their expenditures, travelling and allowances
and divert such money to developing the country.

The legal luminary also advised the government to desist from
adopting any policy that could bring suffering to the masses.

He described the recent increment on value-added tax as
ill-timed, saying that the interest levied on cash deposits and
withdrawals should be cancelled.

Falana said the government could use other means to foster a
cashless economy, including placing an embargo on the amount of
money to be withdrawn from banks daily, rather than imposing
charges.

“The National Assembly by virtue of the constitution would have
to look at VAT whether it can be increased or not,” he said.