In a significant move to combat financial crimes and ensure justice for victims, the Economic and Financial Crimes Commission (EFCC) has handed over a total of $132,362.43 and N78,566,324.81 to American, Spanish, and Swiss nationals defrauded by Nigerian fraudsters.
The restitution ceremony took place at the EFCC’s corporate headquarters in Jabi, Abuja, on Friday, February 21, 2025. The Executive Chairman of the EFCC, Mr. Ola Olukoyede, reaffirmed Nigeria’s commitment to fighting corruption and economic crimes while restoring confidence in the country’s financial system.
“The event is a demonstration of the commitment of the federal government of Nigeria and that of President Bola Ahmed Tinubu to the fight against corruption and financial crimes. A commitment to good governance, a commitment to stimulating the economy, and a commitment to prove to the entire world that Nigeria is not a safe haven for financial crimes, a commitment to international cooperation and international synergy in the fight against financial crimes, which you will agree with me, has become a global crime,” Olukoyede stated.
He further emphasized that the EFCC is dedicated to not only investigating and recovering proceeds of crime but also ensuring victims receive restitution.
“We are here to demonstrate that the federal government of Nigeria, through the Economic and Financial Crimes Commission, EFCC, is ready to do everything possible to prevent financial crimes from being perpetrated in our system. And when one has taken place, to investigate where assets are involved, to trace, to recover, and where necessary, prosecute.
“We don’t just recover, we restitute the victims. We are here this morning to restitute those who were victimized through the perpetration of economic and financial crimes. It is important to know that once proceeds of crime are recovered, the most responsible thing to do is to restitute the victims,” he added.
As part of the restitution, funds and assets were returned to representatives of the affected foreign embassies. Acting Ambassador of Spain to Nigeria, Maria Higon Velasco, received $1,300 and confirmation of a N30 million transfer to the Spanish Embassy for victim Maria Del Rosario San Jose.
Florent Geel, Senior Political Officer and First Secretary of the Swiss Embassy, received $100,011.43 on behalf of victim Chantai Helene Lavancy.
Charles Smith, Legal Attaché at the United States Embassy, accepted $7,344, N7,963,483.35, and Bitcoin valued at $4,470 for Maria Jesus Brockell. He also received a Mercedes Benz E550 4Matic, a Mercedes Benz C450 AMG, and a residential bungalow in Kaduna on behalf of another American victim. Additional restitutions included $7,527 for Michael Smith, $11,710 for Cheryle Williams, and N32,639,358.11 for Marva Marrow.
Expressing gratitude for the efforts of the EFCC, Velasco remarked, “This is a sign of the collaboration between Nigeria and Spain and we are very grateful for this collaboration.”
Smith praised the EFCC’s work, stating, “As the FBI Legal Attaché and the representative of the US government, I want to say we personally appreciate this. Many here may not understand what the impact this does to the victims. This gives them complete closure and it allows them to feel whole again. So we really do appreciate and we thank the EFCC. The EFCC is just not operating in Nigeria. The EFCC is a major global contender and you should recognize that every time.”
On behalf of the Swiss government, Geel acknowledged Nigeria’s efforts in tackling financial crimes and strengthening international collaboration.
“I thank the Nigerian government and especially the EFCC for the work they have done to combat internet fraud and other financial crimes. Today’s restitution of money obtained from a Swiss citizen demonstrates the effectiveness but also integrity, professionalism, courage, and collaboration that occur between Nigeria and Switzerland. So, thank you for this exemplary collaboration and work in making the digital world safer and better regulated. Switzerland will continue to work alongside the Nigerian government in the service of the security of our respective people. So thank you again,” he said.
Umar Ahmed, Permanent Secretary of the Ministry of Foreign Affairs, described the restitution as an “unprecedented development” that enhances Nigeria’s global credibility and improves investor confidence.
“This is really an unprecedented development, and you cannot believe the impact that this development will have on the mandate of the ministry because it makes our work a whole lot easier because it really enhances the credibility of Nigeria in the international scene. And it will also go a long way in restoring investors’ confidence in the country.
“And the ministry is very well with you in pursuing this mandate and wants to thank you for this initiative. It demonstrates the support of our President, Bola Ahmed Tinubu, in the fight against corruption and also in strengthening the EFCC in carrying out its mandate. All of us in the ministry are really happy with this development, and we’ll keep on working with you and supporting you in carrying out your mandate,” Ahmed concluded.
The EFCC continues its relentless efforts in fighting economic and financial crimes, reinforcing Nigeria’s position as a nation committed to justice, transparency, and international cooperation.
