Nigeria: EFCC Recovers N251bn, Multi-Million Dollar Gold, Trapped Taxes

The Economic and Financial Crimes Commission EFCC in Nigeria disclosed that it has recovered N251 billion and multi-million-dollar worth of gold and trapped taxes between January 2018 and first quarter of 2019.

Acting Chairman of the anti-graft agency, Ibrahim Magu, stated this during his 2018/2019 budget defense with the Kayode Oladele led House Committee on Financial Crimes, noting that paucity of funds has ended going by the supports of sustenance to President Muhammodu Buhari’s war against corruption.

However, giving details of the recoveries, Magu explained that N11.5b was realised from final forfeiture of N133.8b from non-forfeiture recoveries; N8.92b from direct deposits; N38.64b from tax recoveries; N4.30b from fuel subsidy recoveries and N42b from banks.

Magu also urged the Nigeria Immigration Service to support EFCC in tackling illegal Bureau de Change operators in Rivers State.

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