Nigeria's Economic Crime Crusade: A Year of Historic Recoveries

Nigeria's Economic and Financial Crimes Commission (EFCC) reported recovering $500 million in crime proceeds and securing over 4,000 convictions last year, marking its most successful year. The agency's efforts highlight persistent corruption in Nigeria, affecting the country's poverty levels despite being Africa's top energy producer.

Nigeria's Economic and Financial Crimes Commission (EFCC) has reported a landmark recovery of nearly $500 million in proceeds of crime in the past year, alongside securing over 4,000 criminal convictions. This marks the highest achievement for the agency since its formation more than twenty years ago.

The report signifies a significant victory in Nigeria's battle against pervasive corruption, a factor often blamed for the nation's enduring poverty. Despite being Africa's leading energy producer, Nigeria grapples with these societal challenges, as reflected in its 140th ranking on Transparency International's latest Corruption Perception Index.

Additionally, the EFCC documented the seizure of 931,052 metric tons of petroleum products, alongside 975 real estate properties and company shares, underscoring the scale of illicit activity tackled by the agency.

(With inputs from agencies.)