EFCC Recovers Over N134bn In 10 Months As Looters Forfeit N120bn To FG

…Recorded 3,615 Convictions In 2022

The Economic and Financial Crimes Commission (EFCC) has recovered a total of one hundred and thirty-four billion, three hundred and thirty-seven million, seven hundred and fifty-nine thousand and five hundred and seventy-four naira (N134, 337,759,574.25).

The Chairman of the Commission, Abdulrasheed Bawa disclosed the information while appearing at the state House Press Briefing at the Presidential Villa on Thursday.

He said the funds were part of the monetary and asset recoveries, recorded between January 1 to October 2022.

Bawa revealed that the commission also recovered monetary assets in foreign currencies including over $121 million, over £21,000 pounce sterling and over 156 euros respectively.

Other none cash assets recovered include over 4,136 Metric Tonnes of Petroleum Product, 65 real estates, 52 automobiles, 15 plots of land and many others.

The EFCC boss noted that the recoveries were not cases under investigation, but are direct forfeited assets in 2022.

“In November, we recovered 354 million dollars NUPRC in terms of royalty that one of the companies have not paid but pout investigation led to that recovered,” he added.

Meanwhile, Bawa revealed that the commission had delivered a total of N120 billion, $29 million, €6.6 million and £1.1 million into the Federal Government’s coffers.

According to him, “the President had sanctioned that all the proceeds should be utilised for the provision of critical infrastructure in the country.

“The funds are going to be used for the completion of the Abuja -Kano expressway, Completion of 2nd Niger Bridge, and Lagos Ibadan expressway among other funds that the FG is gathering.

“That means you are now seeing value for the recoveries, which is an unprecedented thing that has not happened in the country whereby funds that have been forfeited are now used for critical infrastructures.”

Bawa, however, revealed that the commission had recorded tremendous victory in the conviction of criminal suspects in 2022 compared to the last five years.

As of December 9, 2022, the EFCC boss said the commission had recorded over 3,615 convictions which is a 62.8 per cent increase from the 2021 record.

The commission recorded a total of 2,220 conviction in 2021; 976 conviction in 2020; 1,280 convictions in 2019, 312 convictions in 2018 and 186 in 2017.

Bawa further noted that the commission has strategic plans to increase public engagements; improve intelligence-driven investigation, prosecution and asset recovery; enhance institutional and human capacity; improve systems and processes and law enforcement coordination and collaboration in the coming year.