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EFCC recovers looted N70.6bn in 100 days

The Economic and Financial Crimes Commission (EFCC) has announced that it recovered N70.6 billion, secured 747 convictions, mainly for cybercrimes, out of 2,657 accepted petitions.


EFCC Chairman Ola Olukoyede, disclosed that the recoveries were within 100 days, between October 2023 and January 19, 2024.

Details of the recovery outlined in an EFCC document titled, ‘Operations and Recoveries’ revealed that between October 2023 and January 19, 2024, the EFCC recovered N60,969,047,634.25, $10,522,778.57, £150,002.10, €4,119.90, making a total of N70,556,658,370.5 recovered by the anti-graft commission within the period.

Within the same period, the EFCC received a total of 3,325 petitions, accepted 2,657 of the petitions, and secured the convictions of 747 persons for financial crime offences ranging from money laundering to internet fraud.

A breakdown of the data shows that the EFCC headquarters alone recovered N49,607,391,330.44, $3,900,200.75, £2000, and £110.

Further breakdown shows that the Maiduguri Zonal Command recovered N58,065,870 and $3,370.

Gombe Command recovered N127,323,028.50 and $1,500. Kano Command recovered N141,944,451 and $365.

Makurdi Command recovered N53,228, 325.

Enugu Command recovered N202,117,000 and $1,950.

Uyo Command recovered N25,299,950 and $710.

Port Harcourt Zonal Command recovered N2,412,247,210.05 and $5,714,389.21.

Sokoto Command recovered the sum of N100,696,118.72.

Kaduna Command recovered N331,494,710.81, $912, £50, and €1,610, while the Ilorin Command recovered N80,280,580.86 and $880.

The Abuja Zonal Command recovered N825,928,463 and $10,000.

The Ibadan Zonal Command recovered N135,519,810, $14517, £280, and €500.

Lagos Zonal Command recovered N6,826,993,798.78, $868,284.61, £147,672.10, and €1899.90.

The EFCC, through its Benin Zonal Command, also recovered N49,515,987.09 and $5,700.

Within the same period, the EFCC secured the conviction of 747 for offences ranging from money laundering to cybercrimes.

However, the Chairman of the EFCC, Ola Olukoyede, at a dialogue in Abuja, revealed that most of the 747 convictions secured by the commission, involved persons who were prosecuted for cybercrime offences.

Olukoyede made this known during an EFCC event themed, ‘Dialogue on Youth, Religion, and the Fight against Corruption’, which was held at the Musa Yar’Adua Centre, Federal Capital Territory.

Stakeholders say this is commendable of EFCC, but the issue is the re-looting aspect of it. Whether this recovered money will work for Nigeria or still be diverted is the major concern.

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