EFCC recovers $9.75m, £750,000, N1.2bn in 2 weeks — Magu

EFCC recovers $9.75m, £750,000, N1.2bn in 2 weeks — Magu
February 09 21:48 2017

The Economic and Financial Crimes Commission (EFCC) has recovered $9.75 million and £750,000 within two weeks, chairman of the commission, Mr. Ibrahim Magu, has said.

In a report he presented to the House of Representatives Committee on Financial Crimes during the 2016 budget performance appraisal and defence of 2017 budget, Magu said N1.25 billion was also recovered from a public servant.

He said the commission recovered N102.91 billion, 8.30 million dollars, GBP 29,155, 12,475 pounds, 117,004 Canadian dollars as proceeds of crime between January and December, 2016.

He said other monies recovered by the commission during the period were 806.50 Dirham, 5,000 Francs and 2,000 Rupees, stressing that “out of the 37 accounts frozen/forfeited, six banks are yet to provide relevant information on the amount accrued into the suspected accounts within the period under review.”
he said.

He said the during the period under review, the commission secured 135 convictions, out of which 46 were from Lagos zone, 30 from Abuja zone, 22 from Port Harcourt zone, 19 from Kano zone, 15 from Enugu zone and three from Gombe zone.

In his remarks, chairman of the House of Representatives Committee on Financial Crimes, Mr. Kayode Oladele, said that Nigeria had applied to join the league of members of the international anti-corruption agency, Financial Action Task Force (FATF).