
The anti-graft agency in Nigeria recovers around $500 million in a single year
The Economic Crimes Commission of Nigeria reported that it secured over 4,000 criminal convictions last year, the most since the agency’s founding more than 20 years ago, and recovered around $500 million in profits of crime.
Nigeria, the continent’s largest energy producer, has long battled pervasive corruption, which many Nigerians believe fuels the nation’s extreme poverty.
According to a report released Monday by Nigeria’s Economic and Financial Crimes Commission (EFCC), which looks into and prosecutes corruption in the country, some of the money collected was put back into government initiatives.
Transparency International’s most recent Corruption Perception Index has Nigeria at number 140 out of 180.
In addition to the cash, the EFCC reported that it had confiscated 975 real estate holdings, 931,052 metric tons of petroleum products, and corporate shares.
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