Ibrahim Magu, EFCC Acting Chairman

The Economic and Financial Crimes Commission (EFCC) on Thursday confirmed the recovery of USD9.75 million and GBP750,000 from a residence in Kaduna and N1.25 billion from a public civil servant.

This was disclosed by Ibrahim Magu, the acting chairman of the Commission, in a report he presented to the House of Representatives Committee on Financial Crimes during the 2016 budget appraisal and defence of the 2017 budget.

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He pointed out that the monies were all recovered in the space of two weeks.

He said the commission recovered N102.91 billion, USD8.3 million dollars, GBP41,630, and CAD117,004 between January and December 2016.

Other monies recovered during the period, he said, were AED806.50, FRF5,000 and INR2,000.

“Out of the 37 accounts frozen/forfeited, six banks are yet to provide relevant information on the amount accrued into the suspected accounts within the period under review,’” he said.

The report also stated that the commission secured 135 convictions within that same time frame.

According to Magu, the commission while waiting on the completion of its headquarters had resuscitated its offices in Kaduna, Ibadan, Benin and Maiduguri.

Magu urged the legislature to support the fight against graft, saying “corruption is fighting back”.

On recruitment, he said that the commission only recruited 331 cadets on equal quota basis across the country except Lagos, Ekiti, Bayelsa and Rivers with lower numbers.

He went on to defend the disbursement of monies appropriated to the Commission in the budget, stating that only 78.04 percent of the allocated N18.89 billion was released. Of this, 91.1 percent have been utilised.

The Chairman of the committee, Rep. Kayode Oladele, said that Nigeria had applied to join the league of members of Financial Action Task Force (FATF), an international anti-corruption agency.

A move predicated on the desire to strengthen the anti-corruption agenda of the country. He said there is a high chance Nigeria would attain “Observer Member” status as a precursor to full membership.