Whistle-blower policy: EFCC recovers N521.82m, $53.28m, 122,890 pounds, 547,730 euros – Magu
.Says commission secured 62 convictions in 1Q of 2017
.Decries honouring treasury looters with chieftaincy titles
The acting chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, has disclosed that the Commission has recovered N521,815,000.00, $53,272 747.00, £122,890.00, and €547,730.00 through Federal Government’s whistle-blower policy which commenced in December 2016.
He further stated that the EFCC has recorded 62 convictions in the first quarter of 2017.
Magu stated this at the weekend in Abuja during the 2017 Association of National Accountants of Nigeria (ANAN) week/award day.
The EFCC boss, who was represented at the occasion by Mr. A Bello, said there was the need for the stakeholders to address the ugly trend.
Speaking on the recoveries of humongous cash through whistle-blower policy, Magu said, “Apart from several other recoveries running into several billions of naira, the recent whistle blower policy has led to the recovery by EFCC of N521,815,000.00, $53,272 747.00, £122,890.00, and €547,730.00.”
Magu further sought the support of other stakeholders in the fight against corruption and other financial crimes.
He also urged players in the country’s financial sector to play an active role in the war against graft by reporting any suspicious transactions to the EFCC.
Magu also decried the situation where treasury looters get rewarded with positions of authority and chieftaincy titles.
According to him, it is regrettable that values such as hard work and integrity were no more regarded in the country.
He said “the moral values of honesty, integrity and hard work, has been overtaken by greed and crass materialism.”
According to Magu, the unfortunate development is evident in the fact that the society “now recognises thieves and looters of the common treasury, by rewarding them with chieftaincy titles and other high positions of authority”.
He, however, said that there was an urgent need to go through the process of reorientation and regeneration in order to free the country from the shackles of corruption.
The EFCC boss further declared that the situation must be changed for the better, saying that “the process must start from our homes”.
