LAGOS, March 10 (Reuters) – Nigeria’s Economic and Financial Crimes Commission (EFCC) announced that it recovered nearly $500 million in proceeds from criminal activities last year and secured over 4,000 criminal convictions, the highest number since the agency was established more than two decades ago.
As Africa’s largest energy producer, Nigeria has faced persistent corruption for decades, which many citizens believe contributes to widespread poverty in the country. In a report released on Monday, the EFCC stated that some of the recovered funds have been reinvested in government projects.
Nigeria ranks 140 out of 180 on Transparency International’s most recent Corruption Perception Index. In addition to cash, the EFCC reported the seizure of 931,052 metric tons of petroleum products, 975 real estate properties, and various company shares.
