https://en.sputniknews.africa/20250311/nigerias-economic-crimes-commission-recovers-almost-500-million-in-one-year-reports-say-1071042074.html
Nigeria's Economic Crimes Commission Recovers Almost $500 Mln in One Year, Reports Say
Nigeria's Economic Crimes Commission Recovers Almost $500 Mln in One Year, Reports Say
Sputnik Africa
According to the Nigerian Economic Crimes Commission, the most common financial crimes in 2024 involved advance fee fraud, money laundering, and cybercrime. 11.03.2025, Sputnik Africa
2025-03-11T17:26+0100
2025-03-11T17:26+0100
2025-03-11T18:11+0100
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Nigeria's Economic and Financial Crimes Commission (EFCC) recovered nearly $500 million in stolen funds in 2024, a record since its establishment in 2002. The agency also secured 4,111 criminal convictions, the highest number in its history, local media reported.Some of the recovered money was allegedly reinvested in government projects. Beyond monetary recoveries, the EFCC also seized significant assets, including 70 tonnes of unidentified solid minerals and various cryptocurrencies, reports noted.
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nigeria, west africa, crime, illegal activity, finance, economy, fraud, money laundering
nigeria, west africa, crime, illegal activity, finance, economy, fraud, money laundering
Nigeria's Economic Crimes Commission Recovers Almost $500 Mln in One Year, Reports Say
17:26 11.03.2025 (Updated: 18:11 11.03.2025) Elizaveta Roschina
Writer/Editor
According to the Nigerian Economic Crimes Commission, the most common financial crimes in 2024 involved advance fee fraud, money laundering, and cybercrime.
Nigeria's Economic and Financial Crimes Commission (EFCC) recovered nearly $500 million in
stolen funds in 2024, a record since its establishment in 2002. The agency also secured 4,111 criminal convictions, the highest number in its history, local media reported.
"In 2024, the commission secured 4,111 convictions. This is the highest number of convictions secured in any operational year from inception to date. This laudable achievement is attributable to the dedication of our officers and the enabling environment provided by the management and stakeholders of the commission," the EFCC reportedly said.
Some of the recovered money was allegedly reinvested in government projects.
Beyond
monetary recoveries, the EFCC also seized significant assets, including 70 tonnes of unidentified solid minerals and various cryptocurrencies, reports noted.
