Mr Ibrahim Magu, the chairman of Economic and Financial Crimes Commission, a fraud fighting agency, has made public how the agency is finding it difficult to recover stolen funds which are traced to foreign countries, a statement reads.

Recovering Stolen Funds is Frustrating - Magu, EFCC Boss

In a statement by the agency’s acting spokesperson, Tony Orilade, Mr Magu expressed the concern when the director of DAI, Joe Abah, visited him in the office. DAI is an international development company that has been in Nigeria since the 1970s. Mr Magu said the agency has been working hand-in-hand with foreign sister agencies, investigating a “number of cases for four years” but cooperation is the problem.

According the EFCC boss, the process of returning stolen funds back to the country is frustrating.

Yet, we have done everything possible, gone out of our way to encourage our sister agencies, but cooperation is almost nil. We have been investigating a number of cases for over four years working with the Federal Bureau of Investigations, National Crimes Agency and even the Crown Prosecution Service.

We have done everything possible, gone out of our way to encourage our sister agencies, but except there is a third party involved there is no cooperation. We are willing to go outside this country to give evidence, and to share the intelligence that we have, he said.

Recovering Stolen Funds is Frustrating - Magu, EFCC Boss

Magu further re-iterated that President Muhammadu Buhari is keen towards the anti-corruption crusade, which is also why Director Joe Abah visited. Joe Abah said the visit is efforts toward the anti-corruption crusade.

“We recognise the valuable work EFCC is doing to preventing, investigating, prosecuting and combating financial and economic crimes,” Abah said.

In other news, EFFC apprehended nine suspected “Yahoo Boys” in their various hideouts in Edo state.

Of course, arresting local fraudsters is not frustrating.

The suspects of age 20 – 35 were arrested for “cat-fishing” according to gathered intelligence.

The suspects include, Amafin Collins, Edafitite Abel, Francis Omoiegbe, Onuoba Prince NonsoUsianene Elizojie, Ojiefor Marvelus, Uduehi Osumor, Geigi Emmanuel Ose and Osaro Osakpolor.

Recovering Stolen Funds is Frustrating - Magu, EFCC Boss Recovering Stolen Funds is Frustrating - Magu, EFCC Boss Recovering Stolen Funds is Frustrating - Magu, EFCC Boss Recovering Stolen Funds is Frustrating - Magu, EFCC Boss


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