"Not $967.5 Billion": AGF Announces Exact Amount EFCC, ICPC Recovered

• Attorney General Lateef Fagbemi denied claims that Nigeria recovered $967.5 billion in stolen funds, clarifying the actual figure recovered is $105.9 million
• In 2024, the EFCC recovered over N248 billion, $105 million, and 753 housing units, while the ICPC recovered N29.685 billion and nearly $1 million in assets
• Fagbemi urged media to correct false reports and highlighted that recovered funds have supported major infrastructure, healthcare, renewable energy, and anti-corruption initiatives

FCT, Abuja - The Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, has denied reports claiming the Federal Government recovered $967.5 billion in stolen funds.

Speaking at the Asset Recovery Summit in Abuja on Tuesday, Fagbemi stated that the actual figures are much lower but remain significant.

In a statement signed and released on Friday, he clarified, “Contrary to the claims, $105.9 million was recovered, not $967.5 billion.”

Significant recoveries made by EFCC and ICPC in 2024

Fagbemi highlighted that in 2024 alone, the Economic and Financial Crimes Commission (EFCC) reclaimed over N248 billion, $105 million, and 753 duplexes.

Meanwhile, the Independent Corrupt Practices Commission (ICPC) recovered N29.685 billion in cash and $966,900 in assets, Punch reported.

He added that from 2017 to date, Nigeria has collaborated with international partners to recover approximately $763.7 million and £6.47 million.

Of this amount, about $102.88 million and £2.06 million were recovered in 2024.

AGF urges correction of false media reports

The Attorney General called on media organisations that published the erroneous $967.5 billion figure to correct their reports, emphasising,

“The figure quoted by the writers is false and completely at variance from my remarks.”

He commended the government’s transparency and stressed that recovered funds are channelled into critical projects.

“From 2017 to 2024, recovered funds helped fund critical infrastructure like the Lagos-Ibadan Expressway, the Second Niger Bridge, and the Abuja-Kano Road,” Fagbemi said.

He also noted that the funds support healthcare services, renewable energy projects, and rule of law initiatives across Nigeria, Vanguard reported.

Asset recovery remains vital in fighting corruption

Fagbemi concluded,

“Asset recovery is key to fighting corruption and building trust in government. Nigeria has earned global recognition for its efforts, and we will continue to pursue transparency and justice.”

Court takes action on EFCC's case Vs Fayose

Legit.ng earlier reported that The federal high court in Lagos has reserved ruling on the no-case submission filed by Ayodele Fayose, a prominent former governor of Ekiti state. As reported on Tuesday, May 20, by Channels Television, the court took action in Fayose's trial over alleged money laundering and theft totalling N6.9 billion.

Fayose, an open supporter of President Bola Tinubu, was first arraigned on October 22. 2018, before Justice Mojisola Olatoregun.

The ex-governor was arraigned alongside his company, Spotless Investment Limited, on 11 counts bordering on fraud and money laundering. He had pleaded not guilty to the charge and was subsequently freed.

Source: Legit.ng