The Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, has disclosed that the Economic and Financial Crimes Commission (EFCC), and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), have recovered looted funds in cash and assets totalling $967.5 billion and N277 billion.
Fagbemi, who made this disclosure on Tuesday, 27 May, 2025 saying that the recovery was made in 2024 alone, added that while the EFCC reclaimed more than N248 billion, $105 million, and 753 duplexes in its asset recovery efforts, on the other hand, the ICPC recovered N29.685 billion in cash and $966,900 in assets.
The AGF spoke at Asset Recovery Summit in the Ministry of Justice organised in Abuja during the unveiling of the National Central Database of Forfeited Assets.
ICPC Chairman, Musa Adamu Aliyu
According to him, the National Drug Law Enforcement Agency (NDLEA), has also intensified its efforts in seizing assets linked to drug-related crimes, ensuring that illicit proceeds do not fuel further criminal activities.
“Asset recovery is a fundamental pillar in our collective fight against corruption, economic crimes, and illicit financial flows that undermine our national development, as it serves as a deterrent and also deprives criminals of the benefit of their criminal act.
“The Federal Government of Nigeria has remained resolute in its pursuit of transparency, accountability, and the rule of law, recognizing that the effective recovery and management of assets are crucial to restoring public trust and fostering sustainable economic growth.
Lateef Fagbemi
“Nigeria has successfully repatriated significant funds from abroad, reinforcing our commitment to financial accountability,” the AGF stated.
President Bola Tinubu, who was represented at the event by the Permanent Secretary, Policies & Economic Affairs, Office of the Secretary to the Government of the Federation, Nadungu Gagare, spoke on the utilization of digital tools to enhance asset tracking and recovery process.
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