The Attorney-General of the Federation, Lateef Fagbemi, announced Nigeria’s remarkable progress in fighting corruption this year. Speaking at an asset recovery summit in Abuja, he revealed that anti-graft agencies recovered ₦277 billion and $105 million through diligent investigations.
The event successfully gathered experts who engaged in discussions aimed at enhancing transparency in the management of recovered assets.
Fagbemi emphasized that the EFCC spearheaded these initiatives, successfully reclaiming ₦248 billion, $105 million, and various properties. Additionally, the ICPC significantly contributed by recovering ₦29 billion and nearly one million dollars in misappropriated funds. These achievements underscore Nigeria’s enhanced dedication to combating financial crimes and reclaiming illicit assets.
Furthermore, Nigeria has made significant strides in recovering millions of dollars from various international jurisdictions. Fagbemi explained that joint efforts with the US, UK, and Switzerland facilitated the return of $763 million since 2017. This collaboration highlights the power of international partnerships in combating financial misconduct effectively.
In fact, this year alone, authorities recovered over $102 million and £2 million through legal agreements and penalties. These actions demonstrate a commitment to holding corrupt entities accountable while recovering stolen assets for public benefit.
To ensure that recovered funds serve the public good, the government has enacted stringent measures. Now, independent auditors and civil society organizations actively oversee the utilization of these assets for national development. Fagbemi emphasized that maintaining transparency is vital for fostering public trust in the ongoing anti-corruption campaign.
While celebrating these wins, the justice minister acknowledged persistent challenges in tracking cross-border illicit funds. He called for stronger global cooperation to simplify complex recovery processes. The NDLEA also received praise for seizing drug-related assets, preventing criminals from profiting further.
The summit highlighted Nigeria’s commitment to refining its asset recovery strategies. Fagbemi urged continuous collaboration among agencies to sustain the momentum. As investigations continue, more recoveries are expected, reinforcing Nigeria’s stance against corruption. The event concluded with a renewed pledge to uphold accountability and channel recovered resources toward rebuilding the nation.
With each successful recovery, Nigeria moves closer to dismantling corruption networks. The government remains focused on ensuring that every reclaimed naira and dollar serves the people’s interests. This progress marks a significant step in restoring integrity to the country’s financial systems while delivering justice.