Recovering stolen funds stashed abroad is frustrating – EFCC

Posted by FN Editor | 5 years ago | 1,304 times

Ibrahim Magu, acting Chairman, Economic and Financial Crimes Commission has decried the difficulties being experienced in the repatriation of stolen assets traced to foreign countries. He appealed to the international law enforcement agencies to assist the agency in this regard.  


A statement by the commission’s Acting Spokesman, Tony Orilade, in Abuja on Friday quoted Magu to have expressed the concern when Joe Abah, Country Director of DAI Nigeria, visited him in his office. DAI is an international development firm implementing programmes covering governance, in more than 100 countries worldwide.  


According to Magu, the process of repatriating monies stashed abroad has been very frustrating and disappointing.

“Yet, we have done everything possible, gone out of our way to encourage our sister agencies, but cooperation is almost nil. We have been investigating a number of cases for over four years working with the Federal Bureau of Investigations, National Crimes Agency and even the Crown Prosecution Service.  


“We have done everything possible, gone out of our way to encourage our sister agencies, but except there is a third party involved there is no cooperation. We are willing to go outside this country to give evidence, and to share the intelligence that we have,” he said.

Magu, further said that President Buhari remained unwavering in his vision and mission of ensuring victory in the anti-corruption crusade. “The next level in the corruption fight is promising, there is political will and we are going to be daring,” he said. 


Earlier, Abah said that the visit was part of efforts aimed at supporting the anti-corruption crusade in Nigeria. “We recognise the valuable work EFCC is doing to preventing, investigating, prosecuting and combating financial and economic crimes,” he said.


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