The Economic and Financial Crimes Commission (EFCC) has refuted claims that recovered stolen assets are being re-looted or misused, insisting that all proceeds from crime recoveries are duly remitted to the Federal Government.
The commission’s statement came in response to recent reports by the Civil Society Legislative Advocacy Centre, which raised concerns about the alleged mismanagement and re-looting of recovered funds.
CISLAC, in its recent report, stated that Nigeria had successfully recovered over $5bn in stolen assets over the past 25 years.
The centre also noted that there were concerns regarding the transparency and accountability in the management of the assets.
CISLAC’s Executive Director, Auwal Musa, called for consistent implementation of policies to ensure that recovered assets were properly managed and utilised for the benefit of the Nigerians.
Reacting, the EFCC’s Head of Media and Publicity, Dele Oyewale, dismissed the allegations, describing them as mischievous speculations.
Oyewale, in an interview with Saturday PUNCH, stressed that such claims were not supported by facts.
“It is mischievous, speculative, and unfounded for anyone to say that money recovered over time has not been well utilised,” Oyewale said.
He emphasised that the EFCC’s primary responsibility was to recover assets, whether monetary or non-monetary and that all such recoveries were remitted into the appropriate government accounts.
The EFCC’s spokesperson added that the commission had consistently carried out its mandate.
He said, “Between last year and now, we have recovered N248bn, and all funds were remitted to the designated government accounts.
“It is not the mandate of the EFCC to determine how these funds are used. Our job is to recover and remit. Allegations suggesting that the funds are misused are speculative and should be avoided.”
Oyewale pointed to several high-profile projects funded with recovered assets as evidence of their proper usage.
He highlighted that part of the recovered funds had been used to support key infrastructural projects, including the Lagos-Ibadan Expressway and the Abuja-Kaduna Expressway.
“Additionally, out of N100bn, the government directed the EFCC to release N50bn for the students’ loan fund and another N50bn for the Nigeria Consumers Credit Corporation,” Oyewale said.
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