Nigeria: The Edo State Government has began moves to recover US$31m that was fraudulently taken from government coffers during the administration of Lucky Igbinedion as Governor. This was part of the decisions reached at the end of the State Executive Council meeting, held on 5 November 2015.

"There is an issue of fraud that was discovered while turning our books. We found that US$31m was fraudulently taken from state coffers during the administration of Chief Lucky Ogbinedion. The governor has directed the Attorney-General to commence legal action in that direction," said Commissioner for Information, Louis Odion. "In the coming days, the state government will take legal action to ensure that what was stolen from Edo State Government is recovered."

Throwing light on the US$31m fraud, the Commissioner for Commerce and Industry, Honourable Abdul Oroh said: "The US$31m was stolen for a transaction that was designed clearly for criminal purposes. This project was called 'Abat Cement Company,' situated in Ekpe, Akoko. The company was supposed to produce cement to take advantage of the large deposit of limestone in that part of the state. The company was registered as Abat Cement Company Limited and had three shareholders. The Abat Cement Company had 75% of the shares, Edo State Government had 15% of the shares and 10% of the shares were reserved for 'other Nigerians.' Although Edo State government was given only a 15%, 100% of the revenue invested in the company, the US$31m, was taken from the account of Edo State Government. The shareholder agreement was signed by the Fashunu and Governor Igbinedion. As the money was withdrawn, construction of the company started and all the major structures were in place, 90% of the machines were installed, but there was no contribution from any other source for the construction and procurement of this equipment. Everything invested in that company came from Edo State Government.