Nigeria’s Anti-Corruption Agency Recovers Over N409 Billion, $69 Million Looted Funds In 8 Months

The Economic and Financial Crimes Commission (EFCC) has revealed that looted funds totaling over N430 billion in different currencies was recovered by the agency from January. Acting Chairman of the agency, Ibrahim Magu gave the details of the monies recovered today at a press conference.

According to him, between January and August 30, 2017, the EFCC recovered “Between January and August 30, 2017, the EFCC recovered N409,270,706,686.75; $69,501,156.67; 231,118.69 Pounds; 610,816.20 Euros; Dirham 443,400.00 and 70,500.00 Saudi Riyal.

He further revealed that over a month ago, the commission recovered over N329billion from a group of oil marketers for the Nigerian National Petroleum Corporation.

‘In area of prosecution of cases in court, we’re also making progress despite antics of some persons. Between Jan & Aug this year, EFCC recorded 137 convictions… potentials for improvement are good. Remarkable as this feat is, we are not resting on our oars. We believe there is still a lot to be done. We do not pretend to have a monopoly of knowledge on how to win the war against corruption” he said.

Nigeria, Africa’s largest oil producer, has grappled with corruption under successive administrations.