EFCC Announces N1.3trn Worth Of Recoveries In 30 Months

 

The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has announced a N1.3 trillion worth of recoveries in the past three and half years. 

Speaking at a news conference in Abuja, the EFCC boss said the recovered was between 1st June 2023 and 30th June 2026.

Also, a total of 234 cases involving the Bureau De Change operators are under investigation, with 72 convictions made.

A list of categories of crimes listed by the Commission includes advance fee fraud, bank fraud, economic governance fraud, money laundering, Procurement fraud, cybercrime, extractive industry fraud, land property fraud, and tax fraud.

 

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The EFCC chairman also defended its latest policy on managing asset auctions under the Proceeds of Crime Act (POCA), stressing that it falls within its mandate.

He also announced plans by the commission to launch a 24-hour rapid response center by September for members of the public to report economic crimes

Also, he explained that a total of 50 staff of the Commission have been dismissed in the past three years, with five facing prosecution.

 

More details later…

 

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