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Attorney General Federation and the Minister of Justice, Prince Lateef Fagbemi (SAN), have straightened the actual amount found by the Nigerian anti-corruption agency in 2024, rejecting the claim that more than $ 967.5 billion had been found.
In a statement that was personally signed and released on Friday, Fagbemi described numbers that were widely circulated as inaccurate and inconsistent with the facts presented during his speech at the asset recovery summit held on May 27 in Abuja.
The incident, the theme “Synergy of Recovery and Effective Assets Management,” Unites Stakeholders to Reflect Nigeria’s Efforts to Overcome Corruption through Assets and Recovery.
The Minister stressed that while significant progress had been made in the recovery of founded assets, the number of almost one trillion dollar was fabricated.
“In 2024 alone,” Fagbemi clarified, “The Economic and Financial Crime Commission (EFCC) seized more than ₦ 248 billion, $ 105 million, and 753 duplex. Independent corruption practices and other related violation commissions (ICPC) also restored ₦ 29,685 billion in cash and $ 966,900.
He also praised the National Drug Law Enforcement Agency (NDLEA) for intensifying efforts to seize assets related to drug -related crimes, ensuring that illegal results do not fund further criminal activities.
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Beyond local recovery, AGF highlighted the collaborative efforts of the Ministry of Federal with international partners, namely the United States, Britain, Bailiwick from Jersey, Ireland and Switzerland, which has produced substantial results. From 2017 to the present, Nigeria has found $ 763.73 million and £ 6.47 million through an agreement facilitated by this partnership.
Specifically, between January and May 2024, $ 102.88 million and £ 2.06 million were repatriated and since then it has been distributed to an impact development initiative.
These include:
Conditional cash transfer program aimed at supporting vulnerable Nigerians;
- Funding for critical national infrastructure under the Presidential Infrastructure Development Fund (PIDF), especially Lagos-Ibadan Expressway, the second Niger Bridge, and Jalan Abuja-Kano;
- Ongoing projects such as the renovation of elected primary health care centers in the state of Bayelsa, the provision of renewable energy under rural electrification projects, and support for counter-terrorism and legal reform projects through international institutions.
Fagbemi reiterated the unwavering commitment of the Tinubu administration to transparency and accountability in the recovery of assets. He noted that this effort was regulated by global recognized principles, including the UN Convention against Corruption (UNCAC) and the Global Forum on Asset Recovery (GFAR).
“The restoration of assets is not just about reclaiming wealth,” the Minister said. “This is about prevention, justice, and restoring public confidence in government. Nigeria has gained international recognition in this field, and we must not allow wrong information to thwart our progress.”
While praising a media organization that reports the correct numbers, he urges others to improve the wrong report for the interests of accurate public information and national interests.
“Let us not give room for damage,” concluded Fagbemi. “The fight against corruption is smooth, and precision is very important.”
