The Economic and Financial Crimes Commission (EFCC) has clarified that the N1.23 trillion recovered as proceeds of crime between October 2023 and July 2026 is not sitting as cash in the Federal Government’s account.
The commission’s Director of Publicity, Wilson Uwujaren, made the clarification on Tuesday during an interview on Arise Television’s Prime Time, while explaining how the agency’s asset recovery figures are accounted for.
The EFCC had earlier announced that it recovered more than N1.23 trillion and obtained 10,872 convictions during the 34-month period under review.
The figures were contained in a stewardship report presented by EFCC Chairman, Ola Olukoyede, covering his 34 months in office. Olukoyede said the commission achieved its highest-ever monetary asset recovery in both naira and foreign currencies within the period.
Explaining what the recovery figure represents, Uwujaren said not all assets recovered by the commission are intended for the Federal Government.
Speaking on the recovered assets, the commission’s spokesman said, “In the presentation made by the Executive Chairman, whatever aspect of the work of the EFCC that you are interested in, you have something to chew.
“If you are interested in effectiveness in prosecution, there’s something for you. If you are interested in internal processes, there’s something for you. If you are interested in how the activities of the commission support the economy, there is something for you.
“But in terms of the asset recovery figures, the chairman explained that the N1.23 trillion that he talked about is not something that you will find in the Federal Government’s account.
“There are two categories of recovery made by the commission. Indirect recoveries are recoveries made for individuals and corporate entities and paid back to victims of crime.
“Direct recoveries are the ones made for the government and available for projects. They are all verifiable.”
