Nigeria’s anti-graft agency has reported a record-breaking 4,111 successful prosecutions as part of the Economic and Financial Crimes Commission (EFCC) 2024 Convictions and Recoveries.
This is contained in EFCC’s 2024 statistical report, made available to journalists in Abuja, the country’s capital.
According to the agency, the record marks the highest number of convictions and the largest single-year asset recovery in the agency’s history since its establishment in 2003.
The report said that the anti-graft agency received 15,724 petitions and investigated 12,928 cases across all zonal directorates in Nigeria.
Of these, 5,083 cases were filed before various courts.
The statistics of EFCC 2024 Convictions and Recoveries revealed that advanced fee fraud, money laundering, and cybercrime were the most prevalent offences.
Meanwhile, the report attributed the high number of cases to rising unemployment, the quest for quick wealth among youths, a large informal economy, and weak regulatory frameworks.
Again, it revealed that the 4,111 secured convictions were recorded across 15 states, including the EFCC headquarters in Abuja.
While the Lagos Zone had the highest number of convictions at 685, Enugu followed with 516. Maiduguri recorded the lowest number of convictions, at 95.
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EFCC 2024 Monetary Recoveries and Asset Forfeiture
The EFCC said it also recovered significant sums during the year under review
“Such monetary recoveries include N364.6 billion; 214. 51 million dollars; 54,319 euro; 31,265 euro; CAD$2,990 and AUD $740.00.
” Others are CFA7,821,375, UAE Dirham 170, Riyals 5,115, W73,000, 105 Yen, GH¢225 and Rand 50.” the report stated.
Again, the EFCC said it secured the forfeiture of over 750 duplexes and apartments to the Federal Government, marking the largest single asset recovery in its history.
“Other forfeited assets included: 173 vehicles, ₦9.478 billion, $2,605,858.30 million and £1,600.”
Also forfeited to the anti-graft agency were 378 electronics, one factory, one hotel, 14 parcels of land, petroleum products, two gold chains, and 70 tons of unidentified solid minerals.
Furthermore, the EFCC’s 2024 report showed that the source of the ₦50 billion Federal Government grant to the Nigerian Education Loan Fund (NELFUND) was the Commission’s monetary recoveries.