EFCC recovered N134bn assets in 10 months – Bawa

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Abuja, Dec, 15, 2022 – The Economic and Financial Crimes Commission (EFCC) recovered N134.337 billion worth of assets between January and October 2022.

Abdulrasheed Bawa, its Chairman, told the State House correspondents at the Presidential Villa on Thursday that the money were in monetary and other assets.

Bawa said that the commission recovered monetary assets in foreign currencies which included over $121 million, over £21,000 pounds sterling and over €156 euros.

None-cash assets recovered include over 4,136 metric tonnes of petroleum products, 65 real estates, 52 automobiles, 15 plots of land and many others.

The EFCC boss said that the recoveries were not cases under investigation, but were direct forfeited assets.

“In November, we recovered 354 million dollars NUPRC in terms of royalty that one of the companies have not paid, but the investigation led to that recovered,” he said.

Bawa said that the commission paid a total of N120 billion, $29 million, €6.6 million and £1.1 million into the Federal Government’s coffers during the period.

“The President had sanctioned that all the proceeds should be utilised for the provision of critical infrastructure in the country.

“The funds are going to be used for the completion of the Abuja -Kano expressway, Completion of 2nd Niger Bridge, and Lagos-Ibadan expressway among other funds that the FG is gathering.

“That means you are now seeing value for the recoveries which is an unprecedented thing that has not happened in the country whereby funds that have been forfeited are now used for critical infrastructures,” he said

Bawa said that the commission had also recorded tremendous victory in the conviction of criminal suspects in 2022 compared to the last five years.

As of December 9, 2022, the EFCC boss said, the commission had recorded over 3,615 convictions which is 62.8 per cent increase from the 2021 record.

The commission recorded a total of 2,220 convictions in 2021, 976 convictions in 2020, 1,280 convictions in 2019, 312 convictions in 2018 and 186 in 2017.

Bawa said that the commission had strategic plans to increase public engagements, improve intelligence-driven investigation, prosecution and asset recovery, enhance institutional and human capacity, improved systems and processes and law enforcement coordination and collaboration. (GBN)

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