EFCC Recovered N102 .91b in 2016, Says Magu

At the House of Representatives to defend the Economic and Financial Crimes Commission, EFCC, 2016 budget performance,and the 2017 budget, Acting Chairman, Ibrahim Magu revealed that the Commission recovered N102.91 billion in the preceding 2016.

Other monies recovered include, 8.30 million dollars, GBP 29,155, 12,475 pounds, 117,004 Canadian dollars, 806.50 Dirham, 5,000 Francs and 2,000 Rupees as proceeds of crime

He said: “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.

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, however, 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.

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.

In a breakdown of the 2016 budget of the commission, 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.

Magu added that 91.1 per cent component of the released funds had so far been utilised.

Earlier, 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.

He said that the move was part of efforts to strengthen ongoing anti-corruption crusade in the country.

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.

 

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