Peshawar: In a significant development in the ongoing fight against corruption, the National Accountability Bureau (NAB) has returned assets worth more than Rs. 6 billion to the Khyber Pakhtunkhwa government. This marks the first phase of recovery efforts from a substantial financial fraud case involving misappropriated public funds in Upper Kohistan.
According to Press Information Department, a formal ceremony was held in Peshawar where NAB Chairman, Lt. Gen. (Retd.) Nazir Ahmad, handed over the recovered assets to the Chief Secretary of Khyber Pakhtunkhwa. These assets, including cash, precious metals, luxury vehicles, and high-value properties, are part of a broader recovery initiative following a large-scale investigation by NAB Khyber Pakhtunkhwa. The investigation revealed an alleged embezzlement of over Rs. 37 billion from the public exchequer over nearly a decade.
Director General NAB, Khyber Pakhtunkhwa, Farmanullah, highlighted the institution’s commitment to accountability and the protection of public resources during the ceremony. He noted that additional recoveries are anticipated as legal proceedings continue. The Upper Kohistan investigation, authorized by NAB in April 2025, uncovered a network involved in the unlawful withdrawal of public funds through manipulated treasury instruments and financial procedures.
The case exemplifies NAB’s resolve to pursue corruption cases through transparent and lawful processes. With assets valued at over Rs. 10 billion already recovered through various legal mechanisms, and more than Rs. 27 billion worth of assets frozen, preparations are underway for subsequent phases of asset realization. NAB emphasized that once legal formalities are completed, further assets will be returned to ensure public funds serve their intended purposes.
The Upper Kohistan investigation is among NAB’s largest financial fraud cases, involving extensive financial tracing and forensic analysis. Investigators scrutinized over 1,500 bank accounts and identified numerous assets acquired through misappropriated public funds. The case underscores NAB’s capability in tracing and recovering assets derived from corruption, sending a clear message about the protection of public resources.