The Federal Government has disclosed that the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) recovered a combined total of $967.5 billion and N277 billion in cash and assets during 2024.
Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, made this known on Tuesday during the Asset Recovery Summit held at the Ministry of Justice in Abuja.
The event also featured the unveiling of the National Central Database of Forfeited Assets.
According to Fagbemi, the EFCC led the effort by recovering over N248 billion, $105 million, and 753 duplexes. The ICPC, on its part, reclaimed N29.685 billion in cash and $966,900 worth of assets.
The AGF emphasized the government’s unwavering commitment to combating corruption through asset recovery, noting the pivotal role of such efforts in promoting national development.
“Asset recovery is a fundamental pillar in our collective fight against corruption, economic crimes, and illicit financial flows that undermine our national development, as it serves as a deterrent and also deprives criminals of the benefit of their criminal act,” he said.
He also revealed that the National Drug Law Enforcement Agency (NDLEA) has been intensifying its crackdown on assets linked to drug-related crimes to prevent criminal proceeds from fueling further illegal activities.
Fagbemi added, “The Federal Government of Nigeria has remained resolute in its pursuit of transparency, accountability, and the rule of law, recognizing that the effective recovery and management of assets are crucial to restoring public trust and fostering sustainable economic growth.
“Nigeria has successfully repatriated significant funds from abroad, reinforcing our commitment to financial accountability.”
President Bola Tinubu was represented at the summit by Nadungu Gagare, the Permanent Secretary, Policies & Economic Affairs, Office of the Secretary to the Government of the Federation. He stressed the importance of adopting digital tools to improve the tracking and recovery of assets.
