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The acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, said, on Thursday, that it made a series of recoveries of looted funds from individuals in the last 14 days.
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He told the House of Representatives Committee on Financial Crimes that in one case, $9.72m and £750,000 were recovered from the home of a single individual.
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He also informed the committee that another N1.5bn was recovered. Magu did not name the individuals, but added that corruption was fighting back because he had stepped on powerful toes.
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He said: “Just last week, we raided the house of an individual and recovered $9.72m and another £750,000. In fact, about two weeks ago, we recovered N1.5bn from one individual in Kaduna State. The person is a public servant,” he added.
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He complained to the members that he had faced challenges on the job, a development he attributed to the fact that corruption was fighting back.
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Magu stated, “One of our greatest challenges, of course, is that corruption is fighting back. The length of time it takes the courts to conclude cases remains a source of concern.”
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Magu told the committee that the commission recovered assets worth N102.9bn; $8.296m; £29,155; 117,004 Canadian dollars; 806.50 dirhams; and 2,000 rupees in 2016. He added that commission secured 135 convictions.
