Nigeria’s EFCC recovered nearly $500 million and secured over 4,000 criminal convictions in the past year, its highest total since its establishment. The agency is addressing endemic corruption, with funds reinvested in government projects, while also seizing substantial quantities of petroleum products and real estate. Nigeria remains at 140 out of 180 on the Corruption Perception Index.
Nigeria’s Economic and Financial Crimes Commission (EFCC) announced the recovery of nearly $500 million in illicit gains during the past year, alongside securing over 4,000 criminal convictions. This record number of convictions marks the highest achievement for the agency since its establishment over two decades ago, reflecting a significant effort in combating corruption in the nation.
As Africa’s largest energy producer, Nigeria faces persistent corruption issues that many citizens argue contribute to the country’s extensive poverty. In a report released on Monday, the EFCC noted that portions of the recovered funds have been reinvested into government projects, enhancing public welfare and governance.
In the latest Corruption Perception Index from Transparency International, Nigeria ranks 140 out of 180, indicating ongoing challenges with corruption. In addition to cash recoveries, the EFCC reported the seizure of 931,052 metric tons of petroleum products, as well as 975 real estate properties and company shares, underscoring the agency’s broader focus on asset recovery and the enforcement of economic laws.
The EFCC’s recent accomplishments in recovering nearly $500 million in ill-gotten gains and achieving over 4,000 criminal convictions highlight a crucial step towards addressing the endemic corruption that has plagued Nigeria for years. Continued efforts to reinvest recovered assets into government projects may facilitate improved conditions for Nigerian citizens, while ongoing challenges remain evident within the broader landscape of corruption as reflected in the country’s Transparency International ranking.
Original Source: www.usnews.com
