EFCC Recovers N54.7bn in Kano Zone from Politicians, Fraudsters

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EFCC Recovers N54.7bn in Kano Zone from Politicians, Fraudsters

The Economic and Financial Crimes Commission (EFCC), North West Zone has disclosed that it had recovered over N54.5 billion and U$ 622,200 (N196 million), totaling N54.69 billion from some politically exposed individuals and fraudsters in the last ten months.

The North West Zonal coordinator of the anti-graft agency, Mr. Nnaghe Obono Itam, at a quarterly media briefing today in Kano zonal office, said: “The command, in the period under review, also recorded 214 cases, 24 undergoing prosecution and 23 convictions secured.’’

Other properties recovered by the agency are eight houses, nine plots of land, three trucks and a car.

He said part of the total sums of money recovered included investigation into complaint about diversion and fraudulent schemes involving the distribution of petroleum products during the last fuel crisis in the country as directed by the EFCC Chairman, Ibrahim Mangu, in June this year.

"Our investigation into the cyclical, bridging and retail schemes yielded a refund of N54, 393, 1O6. 143 billion to the government by credit marketers who collected the products; sold them but refused to remit the money,’’ he stated.

Itam said the commission was also focusing on tackling fraud-related tax revenues within the business community in Kano.
According to him, “The effort has recovered millions of naira for the Federal Inland Revenue and are partnering to ensure value is derived by the government through appropriate collection of taxes, rates and royalties.’’

He said the commission in the course of analysis, discovered that corruption in the management of the private sector is even greater than the public sector, citing ongoing court cases in the Asset Management Commission of Nigeria (AMCON) as well as the banking institution as example.

The zonal coordinator said the current momentum of the agency’s success is being sustained by the commission’s chairman, whose passion has redefined operations, and triggered a heightened momentum of activities that have recorded arrests, prosecution and recoveries that are unparalleled in the history of the commission.

‘’On a daily basis, hitherto ‘untouchables’ sacred cows in the country and beyond are being investigated and some are being prosecuted,” Itam added.

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