EFCC recovers N106bn, $1.6m, £6m, €25,575 looted funds

by  Innocent Odoh, Abuja

September 12, 2018 | 8:16 pm
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The Economic and Financial Crimes Commission (EFCC) has stated that it has recovered N106, 516,222,383 billion, $1,635,925 million, £629,193  from looters of the national treasury and secured 158 convictions between January and August 2018.

This was disclosed by the Acting Chairman of the Commission, Ibrahim Magu at an interactive session with the media on Wednesday at the new EFCC headquarters in Abuja on Wednesday, during which the commission presented a scorecard entitled “Milestones in Nigeria’s Fight Against Corruption (2015-2018).”

The anti-corruption boss noted that the commission is collaborating with the Federal Inland Revenue Service (FIRS)and the Asset Management Corporation of Nigeria (AMCON) to investigate and recover funds and properties within the provisions of the law. So far, the commission has recovered over N35 billion for the FIRS and about N4 billion for AMCON.

“Tax liabilities of other institutions running into billions of naira have also been identified and the companies have agreed to pay’’ he disclosed.

He said further that in an effort to maxixmise and utilize some of the forfeited properties recovered by the commission, numerous government agencies have been allocated such properties to be used as offices.

“These magnificent properties are currently housing institutions such as the VAIDS office under the Ministry of Finance, a unit from the Defence Headquaters, Voice of Nigeria, North East Initiative and also the Pension Transitional Arrangement Directorate (PTAD),” he said.

He noted that corruption is a cankerworm threatening to destroy the country and must be tackled before it kills the country.

He reminded the media that the EFCC took a bold step to investigate and arrest those involved in the $ 2.1 billion alleged arms fraud, adding that some of those involved have refunded some monies they diverted and are still standing trial for the roles they played in defrauding the country through the abuse of office.

He also cited the efforts made in the alleged corruption cases involving judges and even senior lawyers. “Stories were rife of this alleged corruption so much that the corrupt are now said to be shopping for ” favourable” judges to handle their matter. The EFCC has decisively stepped in to put some judges and lawyers on trial,” he said.


 Innocent Odoh, Abuja

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by  Innocent Odoh, Abuja

September 12, 2018 | 8:16 pm
  |     |     |   Start Conversation

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