John Ameh, AbujaThe Economic and Financial Crimes Commission recovered stolen funds totalling N473.065bn in 2017, the Acting Chairman of the commission, Mr. Ibrahim Magu, told the House of Representatives on Monday in Abuja. Magu said this when he appeared before the House Committee on Financial Crimes to defend the agency’s 2018 budget proposals and review the performance of the 2017 allocations. Magu added that other funds recovered in foreign currencies were $98.2m; £294,851; Dirham 443,400; and South African Rand 70, 500. He added, “Recovery and final forfeiture of N449m discovered at Legico Plaza in Victoria Island, Lagos. Magu stated that the EFCC later went to court to obtain a final forfeiture order of the money and the property for the government.

Source: Punch February 06, 2018 00:11 UTC