The Economic and Financial Crimes Commission, EFCC, said it has recovered N251bn and multi-million dollar jewelry, including gold, between January 2018 and the first quarter of this year.
Acting Chairman of the anti-graft agency, Ibrahim Magu, at a budget defence meeting with the house committee on financial crimes, raised an alarm that the agency may not be able to maintain its new head office which requires N530m per annum.
National Assembly Correspondent, Joke Adisa, reports that Committee chairman, Kayode Oladele from Ogun state, was happy that the completion of the EFCC headquarters abandoned by the previous administration, has enhanced its work.
EFCC’s Ibrahim Magu highlighted some of the commission’s achievements in the past year, top of which are recoveries and convictions
Mr Magu said budget constraints arising from incomplete releases of approved overhead and capital estimates is one major challenge.
The commission’s projected figure of N38.9b for 2019 was slashed to N22.07baira by the Executive, representing a 16.38 per
cent decrease in the 2018 budget.
EFCC recorded 313 convictions in 2018 and 160 by the first quarter of 2019.