Ebun Francis || Ibrahim Magu, the Acting Chairman of the Economic and Financial Crimes Commission (EFCC), on Monday appeared before the House of Representatives Committee on Financial Crimes to brief them on the efforts made so far in the recovery of looted funds.
Magu in his presentation informed the committee that the total asset recovered by the anti-graft agency amount to more than N473billion, $98million, €7million, and £294,000 between January and December 2017.
The breakdown of the figures includes the final forfeiture of N32billion and $5million to the coffers of the Federal Government by a former Minister of Petroleum Resources.
Others are the recovery and final forfeiture of N449million discovered at Legico Plaza in Victoria Island, Lagos, and the final forfeiture of more than $43million discovered in an apartment in Ikoyi area of the state.
The acting EFCC boss also said that the agency recovered more than N329billion from petroleum marketers in Kano while withholding tax of over N27.7 billion was retrieved from banks.
According to Magu, others include the Nigerian Ports Authority recovery of €6.6 million, recoveries of about N1.1billion on behalf of AMCON, and the recovery of subsidy fraud funds of more than N4billion.
He told the lawmakers that details of the recoveries had since been forwarded to the secretariat of the committee.
Magu at the presentation also briefed the committee on the performance of the 2017 Budget of the anti-graft agency, as well as its budget for 2018.