EFCC Says It Recovered Over $500 Million in Cash and Assets for Nigeria in Three Years

EFCC Chairman Ola Olukoyede says the commission has forfeited more than $500 million in cash and assets to the Federal Government since he assumed office three years ago. Speaking at an economic crime symposium in the United Kingdom, Olukoyede said the recoveries were made through asset tracing, credible intelligence and cooperation from the courts. He said the EFCC can seek civil forfeiture orders for assets suspected to be proceeds of crime. He cited the forfeiture of an aircraft allegedly linked to a $30 million bribe, 753 housing units linked to a former CBN governor, and 48 of 57 properties allegedly traced to former Attorney-General Abubakar Malami. He also said a private university linked to a federal health ministry director was voluntarily surrendered after an investigation.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.