$11Billion Stolen Funds: EFCC Recovers Lost Govt. Money From Fraudsters

Economic and Financial Crimes Commission (EFCC) said that it has recovered a total of $11 billion by stolen looters of government treasuries from its inception in 2003. Wilson Uwujaren, head of Media and Publicity of the commission also said that the commission had handled a lot of cases involving advanced free fraud, money laundering, contract scam, internet fraud and had recorded over 100 convictions.
The EFCC Spokesman made the comment while speaking at the Forum of Spokespersons of Security and Response Agencies organised by the I-Nigeria Initiative led by Mrs. Ada Apiaffi, in Abuja on Wednesday.

“As most of you are aware, the commission has the statutory responsibility for the investigation of all economic and financial crimes…
“In the last eleven years we have been in operation, we have handled thousands of cases in these areas and I want to report that we have recorded over 100 convictions  as a result of our investigations.
“In terms of assets recovery, we have recovered assets of well over $11bn in 11 years and I think that is a record,” he said.

Uwujaren said the EFCC had also created a new unit known as Combined Inter Agency Task Force section entrusted with the responsibility of ‘maximising the opportunities of international law enforcement partnership for the benefit of the commission and by extension, the nation.’

He stated that the EFCC’s relationship with international law enforcement organisations and development partners had witnessed a boost because of the confidence of such partners on the commission’s activities.

Uwujaren said that the EFCC had also recovered over N5bn from those implicated in the subsidy scam and was making efforts to bring the suspects to justice.

Source: Nig Comm Week