Nigeria's anti-graft agency, EFCC has recovered about 473.06 billion naira in stolen funds last year in its efforts to rid the West African country from graft, acting chairman of the commission said.
Ibrahim Magu, told the House of Representatives on Monday in Abuja that other funds recovered in foreign currencies were $98.2 million; £294,851; Dirham 443,400; and South African Rand 70, 500.
He also gave the breakdown of the recovered stolen funds as; “Recovery and final forfeiture of N449m discovered at Legico Plaza in Victoria Island, Lagos. Final forfeiture of $43m discovered in the Osborne Towers, Ikoyi, Lagos; recovery of over N329bn from petroleum marketers by the commission’s Kano office; withholding tax recovery of over N27.7bn from banks; recovery of over €6.6m from the Nigerian Port Authority; recoveries of about N1.1bn on behalf of AMCON and recovery of subsidy fraud of over N4bn.”
According to him, final forfeiture of 32 billion naira and $5 million recovered from the former Minister of Petroleum Resources, Diezani Alison-Madueke, had been secured through a judgment of the Federal High Court to the government.
Lawmakers showed much interest in the Osborne Towers’ recovery, asking Magu whether the commission eventually identified the owner of the money.
He replied that nobody came forward to claim ownership of the money after the agency advertised it along with the building.
Magu noted that the EFCC later went to court to obtain a final forfeiture order of the money and the property for the government.
He disclosed that documents recovered from the building indicated that companies belonging to the son of a former Director General of the National Intelligence Agency owned the flat where the money was recovered.
The EFCC boss said the ex-DG’s son, who was a director in the companies, also later denied ownership of the building.
“Since no owner came up, they were forfeited to the Federal Government by the orders of court,” he added.
According to him, final forfeiture of 32 billion naira and $5 million recovered from the former Minister of Petroleum Resources, Diezani Alison-Madueke, had been secured through a judgment of the Federal High Court to the government.
Lawmakers showed much interest in the Osborne Towers’ recovery, asking Magu whether the commission eventually identified the owner of the money.
He replied that nobody came forward to claim ownership of the money after the agency advertised it along with the building.
Magu noted that the EFCC later went to court to obtain a final forfeiture order of the money and the property for the government.
He disclosed that documents recovered from the building indicated that companies belonging to the son of a former Director General of the National Intelligence Agency owned the flat where the money was recovered.
The EFCC boss said the ex-DG’s son, who was a director in the companies, also later denied ownership of the building.
“Since no owner came up, they were forfeited to the Federal Government by the orders of court,” he added.
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