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EFCC Seeks Cut From Recovered Loots

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The Economic and Financial Crimes Commission (EFCC) has urged a review of Nigerian laws to enable anti-graft agencies in the country retain a percentage of the loot recovered to fund their operations.

The Acting Chairman of the commission, Mr Ibrahim Magu, made the request at the national anti-corruption conference organized by the Presidential Advisory Committee against Corruption (PACAC) and the National Assembly in Abuja.

Magu said the review will be in line with international best practices.

“In some jurisdictions like the UK, proceeds of crime are further used to strengthen the agency,” he said.
“In EFCC, we have been struggling for years to build our headquarters and when I think of the billions of naira we recover, I can see what would have happened if we are allowed to apply a percentage of this recovery into our operations.”

Magu was represented at the event by Mr David Tukura, the Deputy Director of Planning, Policy and Statistics of the commission.

Vice President Yemi Osinbajo, who opened the conference, called for more support from Nigerians for the Buhari administration’s efforts at recovering stolen funds from looters of the nation’s treasury.

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