EFCC Official with Recovered Billions

The Acting Chairman of the Economic and Financial Crime Commission EFCC Mr. Ibrahim Magu this week disclosed that the anti-corruption agency has recovered a whopping N409 billion from looters of Nigeria’s treasury. This feat was achieved within an eight month period between January and August 2017. In addition, the sum of $69 million was also recovered within the period.

The EFCC also succeeded in punishing some looters of the nation’s treasury as they have successfully secured 137 convictions in corruption trials all over the Federation. The details of the recovered loot were given in an interactive brief with newsmen in Abuja. According to Magu “ between January and August 30th,2017, the EFCC  recovered  N409, 270, 706,686.75 in foreign currency they recovered $69,501,156.67 : 231,118.69 Pounds: 610, 816.20 Euros, Dirham 443,400.00 and 70,500.00 Saudi Riyal”

According to Magu “over a month ago, the commission recovered over 329billion from a group of oil marketers for the Nigerian National Petroleum Corporation NNPC. In the areas of prosecution of cases in court, we are also making progress despite the antics of persons accused of grand corruption to delay trial” stated Magu.

Stolen Money Hidden in a Cemetry

In a media parley organised to intimate media practitioners from the print, electronic and online platforms, Magu solicited the cooperation of the press in fighting corruption stressing that though journalist are anxious to publish sensational news so as to sell their platforms for monetary gain they should also consider the overall national interest of Nigeria when doing so.Magu warned of compromise in news reporting “from what we read in the papers these days it is either somebody is fighting Magu or Magu is fighting other people. Seriously, instead of fighting ourselves, we should all unite and fight the common enemy which is corruption. I am not after

Magu warned of compromise in news reporting “from what we read in the papers these days it is either somebody is fighting Magu or Magu is fighting other people. Seriously, instead of fighting ourselves, we should all unite and fight the common enemy which is corruption. I am not after anybody and have no issues with anybody. Those who think they have issues with me will soon discover that I mean no harm.

EFCC Boss, Magu

Magu affirmed that he is committed to doing what is right as that is what drives his passion. He revealed his desire to fight corruption to the end in the country. He, therefore, promised that the anti-corruption agency will succeed in its mandate despite all odds ‘we believe there is still a lot to be done which is the reason why we are actively seeking the support and cooperation of stakeholders which include the media.

However, despite the good news, this has not translated into concrete financial gains for the majority of Nigerians as the populace is not feeling the impact of the loot which the Buhari government is flaunting. The Nigerian economy is still officially in recession for the second year running, prices of foodstuffs and goods are still very high, inflation is over 100 % and is coming down very slowly. Unemployment is very high and employment opportunities very few.  The Government must use the recovered loot to energize the economy and make life better for the common man.