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EFCC recovers Mutli-Billion Looted Funds in Hard Currencies

The Economic and Financial Crimes Commission has announced the amount of money it has recovered from different looters in the cause of its fight against corruption. 

Acting Chairman of EFCC, Ibrahim Magu, said the commission recovered N102,913,791,217.54, $8,296,313.99, GBP 29,155, £12,475, Canadian Dollar 117,004, Dirham 806.50, Francs 5,000 and Rupee 2,000, as proceeds of crime between January and December 2016.

Looks like some people are just stealing our money with reckless abandon.

Magu, who appeared before the Hon. Kayode Oladele-led House Committee on Financial Crimes, also confirmed the recovery of $9.750m and £750,000 from a residence in Kaduna recently, adding that N1.25 billion was recovered from a public servant a fortnight ago.

The EFCC chief was in the House of Reps for 2016 budget appraisal and 2017 budget defence.

According to a document submitted by Magu, out of the 37 accounts frozen/forfeited, six banks are yet to provide relevant information on the amount accrued into the suspected accounts during the period under review.

The commission, according to him, secured 135 convictions last year.

He said 46 of the convictions were from Lagos zone, 30 from Abuja, 22 from Port Harcourt, 19 from Kano, 15 from Enugu, and three from Gombe.


The Economic and Financial Crimes Commission has announced the amount of money it has recovered from different looters in the cause of its fight against corruption. 

Acting Chairman of EFCC, Ibrahim Magu, said the commission recovered N102,913,791,217.54, $8,296,313.99, GBP 29,155, £12,475, Canadian Dollar 117,004, Dirham 806.50, Francs 5,000 and Rupee 2,000, as proceeds of crime between January and December 2016.
Looks like some people are just stealing our money with reckless abandon.

Magu, who appeared before the Hon. Kayode Oladele-led House Committee on Financial Crimes, also confirmed the recovery of $9.750m and £750,000 from a residence in Kaduna recently, adding that N1.25 billion was recovered from a public servant a fortnight ago.

The EFCC chief was in the House of Reps for 2016 budget appraisal and 2017 budget defence.

According to a document submitted by Magu, out of the 37 accounts frozen/forfeited, six banks are yet to provide relevant information on the amount accrued into the suspected accounts during the period under review.

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The commission, according to him, secured 135 convictions last year.

He said 46 of the convictions were from Lagos zone, 30 from Abuja, 22 from Port Harcourt, 19 from Kano, 15 from Enugu, and three from Gombe.