EFCC, ICPC Recovered N277bn, $967.5bn in Cash and Assets in 2024 – FG

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 total of N277 billion and $967.5 billion in cash and assets in 2024.

Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, made the revelation on Tuesday during the Asset Recovery Summit organized by the Ministry of Justice in Abuja. The summit also featured the launch of the National Central Database of Forfeited Assets.

Fagbemi stated that the EFCC accounted for a significant portion of the recoveries, reclaiming over N248 billion, $105 million, and 753 duplexes. The ICPC, he added, recovered N29.685 billion in cash and assets valued at $966,900.

He emphasized that the National Drug Law Enforcement Agency (NDLEA) has also intensified efforts in confiscating assets linked to drug-related crimes to prevent illicit proceeds from funding further criminal activities.

“Asset recovery is a cornerstone in our ongoing battle against corruption, economic crimes, and illicit financial flows. It serves as both a deterrent and a tool to strip criminals of the benefits of their illegal activities,” the AGF said.

He stressed that the Federal Government remains committed to transparency, accountability, and the rule of law, noting that efficient asset recovery and management are vital for restoring public trust and achieving sustainable economic development.

Fagbemi also highlighted successful repatriation of looted funds from foreign jurisdictions, reinforcing Nigeria’s drive toward financial accountability.

President Bola Tinubu, represented at the event by Nadungu Gagare, Permanent Secretary for Policies and Economic Affairs at the Office of the Secretary to the Government of the Federation, underscored the importance of deploying digital technologies to streamline asset tracking and recovery processes.