NAB hands over Rs.6 billion recovered assets to KP govt
- By Web Desk -
- Jun 02, 2026

The National Accountability Bureau (NAB) handed over recovered assets worth more than Rs. 6 billion to the Government of Khyber Pakhtunkhwa (KP) in the first phase of asset recovery from one of Pakistan’s largest-ever financial fraud investigations involving the misappropriation of public funds in Upper Kohistan.
At a ceremony held in Peshawar, NAB Chairman Lt Gen (Retd) Nazir Ahmad formally transferred the recovered assets to the provincial chief secretary. The assets are part of an ongoing recovery effort stemming from an investigation into the alleged misappropriation of more than Rs. 37 billion from the public exchequer over nearly a decade.
According to NAB, the assets transferred in the first phase include cash holdings, precious metals, luxury vehicles, and high-value residential and commercial properties identified during the investigation.
The DG NAB KP, Farmanullah, stated that additional recoveries are expected in the coming months as legal proceedings continue and further assets are realized.
The investigation, authorised in April 2025, uncovered what NAB described as a sophisticated network involved in the unlawful withdrawal and diversion of public funds through the manipulation of treasury instruments and abuse of official financial procedures.
The alleged fraud centred on withdrawals from Head of Account G-10113 in Upper Kohistan, with investigators concluding that more than Rs. 37 billion had been extracted through systematic misuse of government financial mechanisms over a period of nearly 10 years.
The DG NAB, Khyber Pakhtunkhwa said that one of the most significant breakthroughs came when investigators identified a bank account allegedly operated by Mumtaz Khan, which NAB believes served as a major channel for the movement of illicit funds.
Financial records examined during the investigation reportedly revealed transactions amounting to approximately Rs. 17 billion through the account within a relatively short period. He added that timely intervention by the bureau enabled investigators to freeze substantial amounts of money and prevent further dissipation of public assets.
Farmanullah said NAB has so far frozen assets worth over Rs. 27 billion and recovered over Rs.10 billion through plea bargains and other legal mechanisms. Of the recovered amount, assets worth more than Rs.6 billion have now been transferred to the provincial government in the first phase.
For his part, NAB Chairman, Lt. Gen. (Retd.) Nazir Ahmad commended the performance of the investigation team and praised the leadership of DG NAB KP Farmanullah and members of the Combined Investigation Team for conducting what he described as an extensive and highly complex financial investigation.
He said the case demonstrated the capability of accountability institutions to identify, trace, and recover assets derived from corruption and financial crimes. He further noted that the successful recovery sent a clear message that public resources are a national trust and that every effort would be made to protect them from misuse.
