What happened to the money EFCC has recovered so far?

The Economic and Financial Crimes Commission (EFCC) said the recovered loot cannot be used to revive the economy until the cases in court are dispensed with. The commission was reacting to

Nigerians who have been asking why the billons of naira and other currencies recovered from looters cannot be used to save the economy from recession. The anti-graft agency said the government cannot spend the money recovered so far because it remains a subject of litigation.

Following the economic recession in the country, Nigerians have been wondering why the government cannot use all the money it claimed to have recovered from looters to revive the economy. 

Sometime in July, the EFCC gave a thorough breakdown on what the commission did with recovered looted funds. In a publication entitled “What EFCC did with recovered loot”, the anti-graft agency said it wanted to put the records straight. 

As the war against corruption continues, there have been reports that the commission has decided to open investigations into activities of some serving ministers under President Muhammadu Buhari’s administration. 

NAIJ