EFCC Recoveries: When Do Fraud Victims Get Their Money Back?

When the EFCC recovers money linked to fraud or other financial crimes, victims may be entitled to restitution. However, recovery alone does not guarantee an immediate refund. Under Nigeria’s Proceeds of Crime (Recovery and Management) Act 2022, authorities must trace the funds, establish ownership and obtain the necessary court orders. Restitution is more likely where the recovered money can be directly linked to an identifiable victim’s loss. Where funds involve government revenue, companies or many victims, a court may order forfeiture to the Federal Government instead. Recovered assets such as houses, vehicles and land may also need to be managed or sold through a legal process before any compensation can be considered. For victims, the key issue is whether the money was traced to their specific loss and whether a restitution order was made.

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