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Looted Funds: EFCC, ICPC recovered $105.9m, not $967.5bn – AGF clarifies

The Attorney General of the Federation and Minister of Justice Prince Lateef Fagbemi SAN has clarified that the Economic and Financial Crimes Commission EFCC and the Independent Corrupt Practices and Other Related Offences Commission ICPC recovered $105.9m, not $967.5bn looted funds in 2024 alone and not $967.5bn as mistakenly reported in some media.
Fagbemi said the figures quoted by the writers were false and completely at variance from his remarks at the Asset Recovery Summit held on May 27 in Abuja and entitled, “Synergizing Towards Effective Assets Recovery and Management.”
The AGF made the clarification on Friday in a statement he personally signed.
The statement read in part “What I said in my speech is that, “In 2024 alone, the Economic and Financial Crimes Commission reclaimed over N248 billion, $105 million, and 753 duplexes in its asset recovery efforts.
“The Independent Corrupt Practices and Other Related Offences Commission, ICPC, also successfully recovered N29.685 billion in cash and $966,900 in assets.
”The National Drug Law Enforcement Agency, NDLEA, has equally intensified its efforts in seizing assets linked to drug-related crimes, ensuring that illicit proceeds do not fuel further criminal activities.
“With regards to international recovery and repatriation of assets, it is pertinent to state that from 2017 to date, the Federal Ministry of Justice working in collaboration with its counterparts and international partners (the US, UK, Bailiwick of Jersey, Ireland, Switzerland), has facilitated the execution of various agreements, leading to the payment of fines, recovery and repatriation of assets in the sums of USD 763,734,000, and £6,472,610 GBP. Of these sums, a total of $102.88 million and £2, 062,000 GBP was recovered from 2024 to date.”
“While we commend the media houses who reported the correct figure, we appeal to those who reported the erroneous figure to do the needful by correcting the anomaly.
“President Bola Ahmed Tinubu’s administration remains resolute in its pursuit of transparency, accountability, and adherence to the rule of law in the management of recovered assets.
“Asset recovery is a fundamental pillar in our strategy to address corruption, economic crimes, and illicit financial flows, which undermine our national development. It is quite a significant strategy, as it serves as a deterrent, deprives criminals of the benefit of their criminal actions and restores confidence in government.
“I am pleased to note that Nigeria has earned global recognition in the area of asset recovery and no room should be given for mischiefs in these efforts.
“These funds are being managed through internationally recognized frameworks, including the United Nations Convention Against Corruption (UNCAC) and the Global Forum on Asset Recovery (GFAR) principles.
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Imo: Criminals won’t go unpunished —Commissioner

The Imo State Commissioner for Information, Declan Emelumba, has vowed that no criminal would go scot-free, stressing that the state government is intolerant of crime in the state.
Emelumba made the vow on Thursday when he featured on Channels Television’s Lunchtime Politics.
According to him, the level of security in the state had improved as there is no hiding place for criminals.
He also addressed concerns over the killing of seven people in the Ideato North Local Government Area of the state.
“Yes, it took some time, but the most important thing is that he [the suspect] was arrested and I think the government should be commended for going all out to ensure he was arrested,” he said.
Weighing in on the current state of security, the commissioner said, he said there had been an improvement compared to previous years.
News
EFCC denies alleged raid on musician, Felix Duke’s hotel in Lagos

The Economic and Financial Crimes Commission, EFCC, has dismissed claims by Nigerian musician and hotel proprietor, Felix Duke, that its operatives stormed his hotel in Lagos, vandalised property, and stole foreign currency.
Duke, who also serves as president of the Creative Industry Group, alleged that on August 1, eight armed men arrived at the Duke and Duchess Hotel in the Abule Egba area in an unmarked bus, identifying themselves as EFCC personnel but failing to present any warrant.
He claimed the men attempted to detain his wife, an American citizen, who refused to comply without a court order.
“They blocked the hotel entrance, chased away customers, and forcibly entered rooms, saying they were looking for me. I later found out they made away with €5,000 from my room,” Duke told journalists.
He suggested the incident was linked to an ongoing land dispute with a retired soldier who had previously petitioned the EFCC against him. According to Duke, he had earlier filed a separate petition against the same individual.
The musician said he has taken legal action against both the EFCC and the petitioner, alleging a breach of his fundamental rights. His suit seeks a formal apology and N50 million in damages.
In a swift reaction on Saturday, EFCC spokesperson Dele Oyewale denied any connection to the reported incident.
“There is nothing like that. The Lagos Directorate confirmed no such operation occurred. It’s not the EFCC,” Oyewale stated, adding that the agency’s most recent operation in Lagos took place on Wednesday at Chevron on Lagos Island, resulting in several arrests.
He also advised Duke to “redirect his energy and insinuations to other quarters, not the EFCC.”
News
OPSH arrests fraudster impersonating to extort money

Troops of the Operation SAFE HAVEN (OPSH), set up to maintain peace and tackle insecurity in Plateau State, have arrested a middle-aged man, Musa Ali, for impersonating a personnel of the outfit to extort money from the family of an arrested criminal.
The Media Information Officer of Operation SAFE HAVEN, Maj. Samson Nantip Zhakhom, who disclosed this in a statement on Saturday, said Ali was apprehended after he fraudulently presented himself as a serving member of the OPSH and fraudulently collected the sum of N400,000.00 from the family of a notorious gunrunner who is currently undergoing investigation.
Maj. Zhakhom said Ali had approached the suspect’s family and falsely claimed that he could stop the ongoing investigations and secure the suspect’s release from custody before the fraudulent scheme was uncovered by operatives of OPSH, leading to his arrest.
“Operation SAFE HAVEN (OPSH) wishes to draw the attention of the general public to the activities of one Mr Musa Ali, who was recently arrested for impersonating as a personnel of OPSH with intent to defraud unsuspecting members of the public,” the OPSH spokesman said in the statement.
He emphasized that the OPSH does not collect money or other gratification to release suspects or halt investigations, as all suspects arrested by the outfit are diligently investigated in line with established legal procedures, with the ultimate aim of ensuring justice and maintaining peace across the Joint Operations Area.
He also stressed that the arrest of Ali underscores OPSH’s unwavering commitment to professionalism, transparency, and zero tolerance for corruption while assuring the public that the suspect will be diligently prosecuted upon completion of investigations.
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