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ABUJA, Nigeria – Attorney General of the Federation (AGF) Lateef Fagbemi SAN has corrected reports on looted funds recovered in 2024. He stated the actual amount recovered by the EFCC and ICPC is $105.9 million. Fagbemi refuted claims of a $967.5 billion recovery. The AGF clarifies recovered funds for public accuracy.
Fagbemi called the larger figures “false and completely at variance” with his statements at the Asset Recovery Summit. He stressed media accuracy on such national issues.
Actual Recovery Figures
The AGF provided details: in 2024, the EFCC recovered over N248 billion and $105 million. The EFCC also recovered 753 duplexes. The ICPC recovered N29.685 billion and $966,900 in assets. This statement from the AGF on recovered funds aims to end speculation.
Fagbemi acknowledged the National Drug Law Enforcement Agency’s (NDLEA) work in seizing assets linked to drug crimes. He noted that between 2017 and 2024, Nigeria recovered over $763 million and £6.4 million with international partners.
Use of Recovered Funds
The AGF said recovered assets are used for important infrastructure projects. These include the Lagos-Ibadan Expressway and the 2nd Niger Bridge. Recovered funds also support healthcare, rural electrification, and counter-terrorism efforts.
“Asset recovery is a fundamental pillar in our strategy to address corruption and restore public trust,” Fagbemi stated. He urged media outlets that published wrong figures to issue corrections. Accurate reporting after the AGF clarifies recovered funds is key.
By Abdullah Korede
