BUSTED! EFCC Recovers $9.75m & £750,000 From A Residence In Kaduna

Published 2 years ago by: kacy lee
at 09:18 PM, 9/02/2017 (2 years ago)

(22984 | Addicted Hero) (f)



Ibrahim Magu, Acting Chairman of Economic and Financial Crimes Commission (EFCC), on Thursday confirmed the recovery of $9.75m 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.

While Magu did not say whose residence it was, a tweet by Sahara Reporters on Thursday evening said that “$9.2m cash and £74,000” was recovered by the EFCC “after raiding the home of a former GMD of Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu in Kaduna.”

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, 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.

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.

Giving breakdown of the 2016 appropriated allocation to 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.

“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.

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 previous years.

Oladele also pledged the support of the house to the EFCC and assured of life assurance for the commission’s operatives.

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osarobo62 at 09:35 PM, 9/02/2017 (2 years ago)
(11752 | Hero) (m)

Nigerian officials made more money from oil sales than Nigeria itself......no wonder they want Buhari dead.
Reply
tommy70 at 09:41 PM, 9/02/2017 (2 years ago)
(3026 | Gistmaniac) (m)

 Huh? Huh? Huh? Huh? Huh? Huh? Huh?
Reply
Mykie010 at 10:00 PM, 9/02/2017 (2 years ago)
(6620 | Gistmaniac) (m)

Cock and bull stories
Reply
james987 at 10:05 PM, 9/02/2017 (2 years ago)
(8287 | Hero) (m)

Ok na.. Where all the money come go? Roll Eyes Roll Eyes
Reply
akinmanchy at 11:55 PM, 9/02/2017 (2 years ago)
(11252 | Hero) (m)

O'boy na wa ooo

Reply
BournIdentity at 11:29 AM, 10/02/2017 (2 years ago)
(46268 | Addicted Hero) (m)

Chhaaaiiiii ole
   
Reply
diezo at 02:46 PM, 10/02/2017 (2 years ago)
(2141 | Gistmaniac) (m)

EFCC! EFCC!! EFCC!!! HOW MANY TIMES I CALL UNA? SHEY UNA DON COME AGAIN E DON REACH SOME MONTHS WHEN UNA TALK NOW UNA DON COME BACK COME PLAY WITH D MINDS OF INNOCENT NIGERIANS BUT THIS TIME E NO GO WORK, D CASES WEY FULL UNA HAND UNA DON HANDLE DEM FINISH ABI NA TO RECOVER THEN PMB GO DEY USE AM GO TREAT HIM HEALTH WEY HIM NO FIT TREAT WHEN HIM NEVER BECOME PRESIDENT BECAUSE I NO DEY UNDERSTAND DIS ABRACADABRA WEY UNA DEY DO FOR DIS COUNTRY, PEOPLE FULL FOR UNA DETENTION UNA NEVER JAIL ANYBODY OR USE D MONEY DEM WEY UNA RECOVER TAKE DO ONE SINGLE PROJECT AND UNA KEEP DEY RECOVER ANYWAYS WEY UNA DEY DO SO MAKE UNA NO FORGET SAY ONE DAY PERSON NO WELL ANOTHER PERSON WEY WELL COME DEY TAKE TABLET FOR PERSON WEY NO WELL NA WHO NO COME WELL?
Reply

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