EFCC recovers $9.75 million, N1.25 billion in 2 weeks — Magu

http://www.premiumtimesng.com/news/more-news/223076-efcc-recovers-9-75-million-n1-25-billion-2-weeks-magu.html

February 9, 2017

Agency Report

Premium Times
Ibrahim Magu, Acting Chairman of Economic and Financial Crimes Commission (EFCC), on Thursday confirmed the recovery of $9.75 million and £750,000 from a residence in Kaduna state.
He also confirmed that N1.25 billion was recovered from a public servant and said that all the monies were recovered within two weeks.
Mr. Magu stated this in a report he presented to the House of Representatives Committee on Financial Crimes during the 2016 budget performance appraisal and defence of 2017 budget before the committee.
He said the commission recovered N102.91 billion, 8.30 million dollars, GBP 29,155, 12,475 pounds, 117,004 Canadian dollars as proceeds of crime between January and December, 2016.
Other monies recovered during the period, he said, were 806.50 Dirham, 5,000 Francs and 2,000 Rupees.
“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 document revealed that the commission secured 135 convictions, out of which 46 were from Lagos zone, 30 from Abuja zone, 22 from Port Harcourt zone, 19 from Kano zone, 15 from Enugu zone and three from Gombe zone during the period.
Mr. Magu acknowledged the support of the committee towards fast-tracking completing of EFCC headquarters in Abuja.


He disclosed that the Federal Ministry of Finance had listed the payment of N1.8 billion out of N2.9 billion meant for completion of the headquarters.
He added that the commission had resuscitated its offices in Kaduna, Ibadan, Benin and Maiduguri as part of efforts to boost its operations across the country.
Mr. Magu urged the legislature to support the fight against graft, saying “corruption is fighting back”.
On recruitment, he said the commission only recruited 331 cadets on equal quota basis across the country except Lagos, Ekiti, Bayelsa and Rivers with lower numbers.
Giving breakdown of the 2016 appropriated allocation to the commission, Mr. Magu told the committee that total budgetary approval was N18.89 billion, but that N14.74 billion representing 78.04 per cent was released.
He explained that N7.62 billion was for personnel cost, overhead was N2.75 billion while capital expenditure was N8.49 billion for the year.
Mr. Magu added that 91.1 per cent component of the released funds had so far been utilised.
Earlier, Chairman of the committee, Kayode Oladele, said that Nigeria had applied to join the league of members of Financial Action Task Force (FATF), an international anti-corruption agency.
He said the move was part of efforts to strengthen ongoing anti-corruption crusade in the country.
Mr. Oladele, who lauded the development, expressed optimism that Nigeria would be admitted as “Observer Member’’ by the end of the year and would become full-time member in the nearest future.
“Our collective efforts to unleash sustainable development in Nigeria through the rooting out of corruption will not produce the desired result if Nigeria is unable to transact in the international market place without let or hindrance.
“In this regard, Nigeria has applied to join the FATF and based on the level of our commitment.
“A high-level delegation from the FATF is due to visit Nigeria in March, 2017, to meet with various stakeholders and report back to its plenary in June, this year.
“I have no doubt that we will be successfully accredited and admitted at the end of the exercise,” he said.


Mr. Oladele commended EFCC for the successes recorded so far and said: “for the first time in Nigeria’s history, anti-corruption searchlights have been beamed on the judiciary and the revelations have been mind-blogging.
“In addition, similar exercises in the arms procurement process by the Nigerian military have also led to several arrests.
“Overall, the EFCC made the highest number of recoveries of stolen resources, running into billions of naira in a single year in the annals of Nigeria’s anti-corruption efforts.”
The chairman solicited the support of Nigerians in stemming the scourge of corruption in various facets of the economy.
According to him, the fight against corruption is one of the most potent weapons to fight recession which structural cause is rooted in waste, looting, misplacement of priorities and misappropriation of yesteryears.
Mr. Oladele also pledged the support of the house to the EFCC and assured of life assurance for the commission’s operatives. (NAN)

give us their names, and how many people have u taken to court, what have u done with the past one recover. Magu hmmmm

Previous administration was a mess.

GEJ!!!! Hero of corruption!!!!!!!!

Where are all these money these people are calling coming from?

And yet we are still in recession infact, approaching depression. Maybe they should just share out all these monies directly, who knows, it might help us work ourselves out of the recession individually.

it may be all the monies discovered will be put to use after we miss the one that does not know what to do with all the discovered cash.





but where is our Presido nah?

Prosecute just one (1), then we can take you serious.

What are they doing with all this money recovered ... later now we go hear say them want go borrow money .... Nigeria is very corrupt

Yayofeski:
Where are all these money these people are calling coming from?

Lies Unlimited.

It's not only millions it's trillions that have been recovered. Telling lies again and again to deceive the gullible that money is been recovered yet the F.G is going out to take loan.

You tell people that someone stole $1M from your bag, that you have caught the person and that you have recovered the money but that you need money and want to still borrow $1M. Are Nigerians stupid? or the Lying Liars are so stupid and think Nigerians are all gullible?

So it's either money was never stolen or money was never recovered so which of the lies does their statement reflect.

Ok


Check my signature for beautiful and classy window blinds

0k goodt, send them all to pmbz private account, zthe looted punds musz vbe well spent..

And you people still want to borrow, after recovering £50billion from deziani

Good one Magu... more to recover
Name them please

Tired of hearing all these news. People are still dying of hunger

Recovery all the time. Nothing to show for the huge amount of money recovered.

They are working but where they keep all this money is what baffles me cos in my area alone i can count more than 5 properties that was seized by efcc. Just my area alone oh . Not to talk of other areas .

am I the only one thinking that just them dashing me 1% of those money will make me sing "I can see everything turning around,turning around,tuning around for my soul"

All we see are FIGURES without FACTS!

Na who get all the MONEY wey dem say dem seize?

EFCC!!! FANTASTICALLY-KWARAPT!

Na so.

when una yansh don cast na to bring up anoda fake anti corruption story.

Then the money should be used for the betterment of the nation

Nigeria is stinkingly rich may all the looters and Milkers of our Economy know no peace......Awon Oleburuku and will still be doing big man on top our commonwealth

Where is the money

the ones recovered in the past nko? where dem dey? tire for this administration full of lies.

I love EFCC job if the motive behind all the recovery is good.
If the money recovered is used and channeled properly.
If those been indicted actually end up in jail.

EFCC, ICPC, Police, DSS haba. We should not have corruption in Nigeria with all these folks.

Here is how to join the EFCC in case:
http://www.hrtechnique.com/2017/01/how-to-join-efcc.html

after all these discovery & recovery, FG will insist on borrowing. make una fear God naaa

Record breaking. God bless Buhari and God curse the corrupt enemies and its supporters in Nigeria