Views: 474 Posts: 0 Started By: oladamats Last Poster: oladamats Last Post Date: Feb 10, 2017

February 10, 2017 ( Post 1 )


Mr Ibrahim Magu, Acting Chairman of Economic and Financial Crimes Commission (EFCC), on Thursday confirmed the recovery of 9.75 million dollars and 750,000 pounds from a residence in Kaduna state.

He also confirmed that N1.25 billion was recovered from a public servant and said that all the monies were recovered within two weeks.

Magu stated this 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 before the committee.

According to The Nation, 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.

Other monies recovered during the period, he said, were 806.50 Dirham, 5,000 Francs and 2,000 Rupees.
“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.

The document revealed that 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 during the period.


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