EFCC recovers N434bn in 8 months

The Economic and Financial Crimes Commission (EFCC) has recovered over N434.7billion between January and August this year, its acting Chairman Ibrahim Magu said during a meeting with journalists in Abuja yesterday.


A breakdown shows that N409, 270, 706, 686.75; $69, 501,156.67 (USD); £231,118.69 (British pounds); €610,816.20 (Euros); 443,400.00 (UAE Dirham) and 70, 500.00 (Saudi Riyals), forming a total of N434.7bn was recovered in both naira and foreign currencies.

Magu said “Two days ago, we got the court to forfeit to the Nigerian Government a sum of N7.6billion which was hidden in a Nigerian bank by former petroleum resources minister, Diezani Alison-Madueke.


“Two weeks earlier, another court issued a temporary forfeiture order to seize property worth $21,392,224 belonging to the same former minister, those property are awaiting final forfeiture.” 

He said the commission recovered over N329billion from a group of oil marketers for the Nigerian National Petroleum corporation. 

Daily Trust reports that the N329bn was recovered in July through the Kano office of the anti-graft body.

“Despite the antics of some persons accused of grand corruption to delay trial, between January and August this year, EFCC recorded 137 convictions,” Magu added.

He said it would be naïve for anyone to expect the fight against corruption to be smooth. “You should expect resistance and opposition which are expressed in various guises.”

He added that, “From what we read in the papers these days, it is either somebody is fighting Magu or Magu is fighting other people.

“Personally, I am not after anybody and have no issues with anybody. Those who think they have issues with me will soon discover that I mean no harm.”

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