N853bn crime proceeds recovered in one year – EFCC

The Economic and Financial Crimes Commission says it recovered N364.5bn and $326.5m crime proceeds between 2023 and 2024.

The commission said the recoveries, which it described as unprecedented, were complemented by extensive monitoring of government intervention funds, including the PL-CNG scheme, NG-CARES, NACA Global Fund, SESET, AMCON loans, and various Central Bank of Nigeria facilities, such as COVID-19 support schemes and conversion loans with 15 percent cover.

During the same period, the EFCC said it received 15,724 petitions, investigated 12,928 of them, filed 5,081 cases in court, and secured 4,171 convictions, while 2,348 cases remain pending.

“These figures are not just numbers; they represent deterrence, restitution, and a firm statement that corruption will not be tolerated,” the EFCC stated, stressing that its operations go beyond curbing internet fraud to protecting national assets and ensuring that critical intervention funds reach their intended beneficiaries.

The commission added that all recoveries and convictions were secured under strict adherence to due process and judicial oversight, a factor it said has strengthened public confidence in its operations.

The commission described the achievements as evidence of its expanding influence in safeguarding Nigeria’s financial system, with many noting that its performance reaffirms the country’s leadership in Africa’s anti-graft fight at a time of persistent challenges from corruption, mismanagement, and economic sabotage. (Punch)