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History of EFCC in Nigeria. Including Top Cases Handled*

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The economic and financial crimes commission is a Nigerian law enforcement answerable  financial crimes and money laundering.

Corruption is the unsurpassed hurdle preventing Nigeria from achieving enormous potential, it drains billion of dollars a year from the country economy.

EFCC was established to eradicate fraudulent activity in Nigeria, April 13, 2003, in comparatively react to requirements from the financial action task force on money laundering (FATF), which name Nigeria as one of 23 country non-cooperative in the international communitys

The EFCC act was first enacted in 2002 and amended in 2004 which was founded by Olusegun Obasanju, headed by Nuhu Ribadu in Abuja head quarter, to eliminate financial crimes such has, money embezzlement, money laundering, fee fraud in the country.

A statement by the Economic and Financial Crimes Commission has revealed that it recovered One hundred and Fifty-two billion Naira (N152,088,698,751.64) in 2021.

According to the commission, the headquarters recovered N67 billion, while the Lagos office recovered N70 billion.

Sokoto recovered N1.3 billion, Kano N1.7 billion, Maiduguri N970 million, Sokoto N1.9 billion, Ilorin N240 million, Port Harcourt N2.1 billion, Makurdi N121 million, Gombe N388 million, Uyo 234 million, Kaduna N3.3 billion, Enugu N768 million and Ibadan N325 million.

Foreign currency recoveries amounted to $386 million and €156 Thousand. Bitcoin to the value of BTC5.36 and ETH0.0902 was recovered.

This is the first time in recent memory that the anti-corruption agency is publishing official, disaggregated data of recoveries.

By Soni Daniel, Northern Region Editor vanguard new,
Nigeria has successfully traced and recovered $2.9 billion or N738.9 billion from looters between May 2015 and October 2017, the Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, has said

Cite- dataphy.com

Vanguard new

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