EFCC and ICPC Recover Billions in Looted Funds, Says Attorney General
In a significant boost to Nigeria’s anti-corruption efforts, the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC) have recovered a staggering $967.5 billion and ₦277 billion in looted public funds. The announcement, made by the Attorney General of the Federation and Minister of Justice, Lateef Olasunkami Fagbemi, SAN, highlights the scope of financial recovery efforts over recent years.
According to Fagbemi, between 2017 and 2024 alone, $659 million and £6.4 million of recovered assets were channeled into critical national programs. These include Nigeria’s Conditional Cash Transfer scheme, aimed at supporting vulnerable households, and the funding of key infrastructure projects across the country.
The Attorney General emphasized the importance of transparency and accountability in utilizing recovered assets, noting that these funds are being reinvested to promote economic growth and improve public welfare.
The announcement reflects the Nigerian government’s ongoing resolve to combat corruption and ensure that stolen public wealth is returned and used to benefit citizens. It also renews calls from civil society for sustained oversight and stronger institutional reforms to prevent future misappropriation.
In a significant boost to Nigeria’s anti-corruption efforts, the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC) have recovered a staggering $967.5 billion and ₦277 billion in looted public funds. The announcement, made by the Attorney General of the Federation and Minister of Justice, Lateef Olasunkami Fagbemi, SAN, highlights the scope of financial recovery efforts over recent years.
According to Fagbemi, between 2017 and 2024 alone, $659 million and £6.4 million of recovered assets were channeled into critical national programs. These include Nigeria’s Conditional Cash Transfer scheme, aimed at supporting vulnerable households, and the funding of key infrastructure projects across the country.
The Attorney General emphasized the importance of transparency and accountability in utilizing recovered assets, noting that these funds are being reinvested to promote economic growth and improve public welfare.
The announcement reflects the Nigerian government’s ongoing resolve to combat corruption and ensure that stolen public wealth is returned and used to benefit citizens. It also renews calls from civil society for sustained oversight and stronger institutional reforms to prevent future misappropriation.
EFCC and ICPC Recover Billions in Looted Funds, Says Attorney General
In a significant boost to Nigeria’s anti-corruption efforts, the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC) have recovered a staggering $967.5 billion and ₦277 billion in looted public funds. The announcement, made by the Attorney General of the Federation and Minister of Justice, Lateef Olasunkami Fagbemi, SAN, highlights the scope of financial recovery efforts over recent years.
According to Fagbemi, between 2017 and 2024 alone, $659 million and £6.4 million of recovered assets were channeled into critical national programs. These include Nigeria’s Conditional Cash Transfer scheme, aimed at supporting vulnerable households, and the funding of key infrastructure projects across the country.
The Attorney General emphasized the importance of transparency and accountability in utilizing recovered assets, noting that these funds are being reinvested to promote economic growth and improve public welfare.
The announcement reflects the Nigerian government’s ongoing resolve to combat corruption and ensure that stolen public wealth is returned and used to benefit citizens. It also renews calls from civil society for sustained oversight and stronger institutional reforms to prevent future misappropriation.
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