According to the statement released by the Nigerian Minister of Information, Nigeria’s financial crimes agency rescued at least $750 million in local and foreign currency, linked with corruption and fraud in 2021.
Africa’s biggest economy and energy producer ‘Nigeria’, has suffered for the past many decades in order to end the corruption among the political elite, and many Nigerians blamed the government for spreading poverty in the nation.
According to Information Minister Lai Mohammed, “The Economic and Financial Crimes Commission (EFCC) in 2021 recovered 152 million naira ($366 million), $386 million, and 1.1 million pounds in which digital currencies, among other proceeds white-collar crime.”
The team of EFCC investigates and prosecute corruption in Nigeria. However, Mohammed did not provide details from where they recovered all the money or from whom they have recovered.
He further said that 96 operators of terrorism had been encountered in Nigeria with 424 associates and about 123 companies and 33 exchange bureaux, followed by Nigerian Financial Intelligence Unite in 2020-21.
As per Mohammed, “The critique has resulted in the arrest of 45 suspects who will soon face prosecution and seizure of assets.”
President Muhammadu Buhari, in his second time in office, was selected mainly on his promises to fight against corruption and pledged to recover “mind-boggling” the money that was stolen from Nigeria.
Since then, the nation has taken two slumps caused by a sudden fall in global oil prices, making it more accurate to regain the loss of money. Crude oil sales account for most of the nation’s economy and foreign exchange.