Whistleblowing: EFCC Recovers N17bn In Four Months

The acting Chairman of the Economic and Financial Crimes Commission, Mr. Ibrahim Magu, says the EFCC has recovered at least N17bn since the Federal Government introduced the whistle-blower policy on December 20, 2016.

Giving a breakdown of the recoveries, Magu said the commission had recovered N521,815,000, $53,272,747, £122,890, and €547,730.

Magu, according to a statement by the EFCC spokesman, Mr. Wilson Uwujaren, stated this at the 2017 Association of the National Accountants of Nigeria Week/Award Day, in Abuja on Saturday.

The EFCC boss said, “Apart from several other recoveries running into several billions of naira, the recent whistle-blower policy, has led to the recovery by EFCC of N521,815,000, $53,272,747, £122,890, and €547,730.”

He also revealed that the EFCC had recorded 62 convictions in the first quarter of the year.

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Magu urged players in Nigeria’s financial sector, to ensure that they play an active role in the war against corruption by reporting any suspicious transactions to the agency.

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