Published On: Thu, Feb 9th, 2017

How we recovered loots from corrupt public officials in foreign currencies, Magu tells N’Assembly

Ibrahim Magu

  • Gives details of recoveries in various currencies

The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, on Thursday said the commission  recovered so much loot from corrupt public officials in 2016

Magu who said the recovery of the loots were done in both Nigeria Naira and various foreign currencies.

He gave details of the loot recovered between January and December 2016 alone to include N102,913,791,217.54,  $8,296,313.99,  GBP 29,155,  £12,475, 117,004 Canadian Dollar, 806.50 Dirham, 5,000 Francs and 2,000 Rupee.

Magu, who appeared before the Hon. Kayode Oladele-led House Committee on Financial Crimes, also confirmed the recovery of $9.750 million and £750,000 from a residence in Kaduna recently, adding that N1.25 billion was recovered from a public servant a fortnight ago.

The EFCC chief was in the House of Representatives for 2016 budget appraisal and 2017 budget defence.

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According to a document submitted by Magu to the committee, out of the 37 accounts frozen/forfeited, six banks are yet to provide relevant information on the amount accrued into the suspected accounts during the period under review.

The commission, according to him, secured 135 convictions last year.

He said 46  of the convictions were from Lagos zone, 30 from Abuja, 22 from Port Harcourt, 19 from Kano, 15 from Enugu, and three from Gombe.

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