EFCC handed over N136 billion in proceeds of crime, Bawa says
The Economic and Financial Crimes Commission said on Thursday that it had paid at least 136 billion naira into the federal government account set up to collect and manage the proceeds of crime since May 2022.
Commission Chairman Abdulrasheed Bawa revealed this to State House correspondents at the Presidential Villa, Abuja.
According to Bawa, the breakdown of funds is as follows: N120 billion, $29 million, €6.6 million and around £1.1 million. The Naira equivalent of the funds stands at 136,651,505,114 Naira.
These recovered funds, he said, will be deployed in ongoing infrastructure projects such as the Abuja-Kano road, the second Niger bridge and the Lagos-Ibadan highway, among others.
Revealing the number of funds and value of properties recovered so far, Bawa said: "From our EFCC recovery account, we have paid N120 billion, $29 million, 6 €.6 million and approximately £1.1 million.
"And the President has authorized that all these funds be used to provide critical infrastructure in the country. Thus, the funds will be used for the completion of the Abuja-Kano highway, the second bridge on the Niger and the Lagos-Ibadan highway, among other funds the federal government receives.”
It revealed that in November 2022, the Anti-Corruption Agency had recovered an additional N201 billion from oil companies that failed to pay royalties to the Nigerian Petroleum Regulatory Commission in upstream and the 3% statutory payment to the Niger Delta Development Commission. .
The breakdown includes $354 million, 30 billion naira and $30 million.
Responding to allegations that the EFCC may be a tool in the hands of some influential people, Bawa argued that the agency is independent enough to investigate suspended Attorney General Ahmed Idris, on a N109 billion money laundering case.
An investigation, he said, recovered over N30 billion.
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The Economic and Financial Crimes Commission said on Thursday that it had paid at least 136 billion naira into the federal government account set up to collect and manage the proceeds of crime since May 2022.
Commission Chairman Abdulrasheed Bawa revealed this to State House correspondents at the Presidential Villa, Abuja.
According to Bawa, the breakdown of funds is as follows: N120 billion, $29 million, €6.6 million and around £1.1 million. The Naira equivalent of the funds stands at 136,651,505,114 Naira.
These recovered funds, he said, will be deployed in ongoing infrastructure projects such as the Abuja-Kano road, the second Niger bridge and the Lagos-Ibadan highway, among others.
Revealing the number of funds and value of properties recovered so far, Bawa said: "From our EFCC recovery account, we have paid N120 billion, $29 million, 6 €.6 million and approximately £1.1 million.
"And the President has authorized that all these funds be used to provide critical infrastructure in the country. Thus, the funds will be used for the completion of the Abuja-Kano highway, the second bridge on the Niger and the Lagos-Ibadan highway, among other funds the federal government receives.”
It revealed that in November 2022, the Anti-Corruption Agency had recovered an additional N201 billion from oil companies that failed to pay royalties to the Nigerian Petroleum Regulatory Commission in upstream and the 3% statutory payment to the Niger Delta Development Commission. .
The breakdown includes $354 million, 30 billion naira and $30 million.
Responding to allegations that the EFCC may be a tool in the hands of some influential people, Bawa argued that the agency is independent enough to investigate suspended Attorney General Ahmed Idris, on a N109 billion money laundering case.
An investigation, he said, recovered over N30 billion.
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