The Federal Government of Nigeria has announced that the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) have recovered looted funds and assets valued at $967.5 billion and ₦277 billion.
This revelation was made by the Attorney-General of the Federation (AGF) and Minister of Justice, Prince Lateef Fagbemi (SAN), on Tuesday, during the unveiling of the National Central Database of Forfeited Assets at the Asset Recovery Summit in Abuja.
According to the AGF, the EFCC recovered over ₦248 billion, $105 million, and 753 duplexes as part of its asset recovery efforts in 2024 alone. Meanwhile, the ICPC recovered ₦29.685 billion in cash and $966,900 in assets.
The AGF also highlighted the role of the National Drug Law Enforcement Agency (NDLEA) in intensifying efforts to seize assets linked to drug-related crimes, ensuring that illicit proceeds do not fuel further criminal activities.
“Asset recovery is a fundamental pillar in our collective fight against corruption, economic crimes, and illicit financial flows that undermine our national development. It serves as a deterrent and deprives criminals of the benefit of their criminal acts,” Fagbemi stated.
He further emphasized that the Federal Government remains committed to transparency, accountability, and the rule of law, noting that effective recovery and management of assets are key to restoring public trust and driving sustainable economic growth.
“Nigeria has successfully repatriated significant funds from abroad, reinforcing our commitment to financial accountability,” the AGF added.
Representing President Bola Tinubu at the event, Permanent Secretary, Policies & Economic Affairs, Office of the Secretary to the Government of the Federation, Nadungu Gagare, stressed the importance of utilizing digital tools to enhance the asset tracking and recovery process.
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