Nigeria’s Anti-Graft Agency Recovers $500 Million, Secures Over 4000 Criminal Convictions In One Year

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The Economic and Financial Crimes Commission (EFCC) said it has recovered nearly $500 million in proceeds of crime in the last year.

The agency added that it has also secured more than 4,000 criminal convictions, its highest since the agency’s inception more than two decades ago.

The Commission which investigates and prosecutes corruption in Nigeria, said in a report on Monday that some of the recovered money was reinvested in government projects.

Nigeria has struggled for decades with endemic corruption, which many Nigerians say contributes to widespread poverty in the country.

Nigeria is ranked 140 out of 180 on Transparency International’s latest Corruption Perception Index.

Besides cash, the EFCC said it also seized 931,052 metric tons of petroleum products, 975 real estate properties and company shares.