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EFCC, ICPC Recover N277bn, $105m From Financial Crimes in 2024

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EFCC Real Estate Agents

By Adedapo Adesanya

The agencies saddled with the responsibilities of curbing financial crimes in Nigeria, the Economic and Financial Crimes Commission (EFCC), and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), recovered about N277 billion and $105 million in 2024.

This information was disclosed by Attorney-General of the Federation (AGF) and Minister of Justice, Mr Lateef Fagbemi (SAN), while speaking recently at an asset recovery summit in Abuja.

Giving a breakdown, the AGF said the EFCC, which investigates and prosecutes financial crimes, recovered N248 billion, $105 million, and 753 duplexes in 2024, while the ICPC, which handles prosecution of corruption and embezzlement, reclaimed N29.685 billion in cash and $966,900 in looted assets in the same year.

Mr Fagbemi said Nigeria has successfully repatriated significant funds from abroad, reinforcing the country’s commitment to financial accountability.

He also said other enforcement bodies have also carried out their functions adequately in the last year. Foe instance, the National Drug Law Enforcement Agency (NDLEA) intensified its efforts in seizing assets linked to drug-related crimes, ensuring that illicit proceeds do not fuel further criminal activities.

“In 2024 alone, the Economic and Financial Crimes Commission (EFCC) is reported to have reclaimed over N248 billion, $105 million, and 753 duplexes in its asset recovery efforts. The Independent Corrupt Practices and Other Related Offences Commission (ICPC) is also reported to have recovered N29.685 billion in cash and $966,900 in assets.

“With regards to international recovery and repatriation of assets which is within the purview of the Federal Ministry of Justice, it is pertinent to state that from 2017 to date, the Federal Ministry of Justice working in collaboration with its counterparts and international partners (the US, UK, Bailiwick of Jersey, Ireland, Switzerland), was able to facilitate the execution of various agreements, leading to the payment of fines, recovery and repatriation of assets in the sum of $763,734,000, and £6,472,610.

“Of these sums, a total of $102.88 million and £2,062,000 (Galactica Assets $52.88 million, Glencore Fined $50 million, Useni/Miner GBP 2,062,000) was recovered from 2024 to date.

“However, discussions and negotiations are still ongoing and pending with regards to some other assets located offshore, with a view to finalising their forfeiture and/or repatriation to Nigeria,” he said.

Mr Fagbemi said that based on assets’ repatriation agreements in line with international best practices, mechanisms have been put in place to ensure the transparent utilisation and management of repatriated assets on specific identified critical infrastructure projects, noting that the mechanisms include the participation of civil society organisations (CSO) as independent monitors of the repatriated assets; engagement of independent auditors to regularly audit the repatriated assets accounts;

The justice minister said despite the achievements, some challenges persist, adding that, “The complexities of cross-border asset recovery, the need for enhanced international collaboration, and the imperative of ensuring transparency in asset management demand our collective attention and action.”

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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President Tinubu Greets Senator Kalu at 65

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Orji Uzor Kalu Tinubu 65th birthday

By Aduragbemi Omiyale

The Senator representing Abia North Senatorial District in the National Assembly, Mr Orji Uzor Kalu, has been congratulated by President Bola Tinubu on his 65th birthday.

In a statement released by the State House, the former Governor of Abia State was praised for his multifaceted roles and his service to the nation.

Mr Tinubu said his longtime friend and political ally has worked for the growth of Nigeria, having served as the Senate Chief Whip and currently the Chairman of the Senate Committee on the South East Development Commission (SEDC).

The SEDC is one of the regional development commissions established by the administration of President Tinubu to accelerate infrastructure, economic growth, and overall development across the South East geopolitical zone.

The President highlighted the lawmaker’s significant contributions during his tenure as Governor of Abia State from 1999 to 2007, as well as his continued dedication to the progress of the state and the nation at large.

He also acknowledged Mr Kalu’s accomplishments in the private sector, describing him as a media mogul and Chairman of SLOK Holding, who continues to play a vital role in Nigeria’s economic development.

“Senator Orji Uzor Kalu’s vision, resilience, industry and service to the nation and commitment to the progress of Abia are noteworthy,” President Tinubu remarked.

“I wish him long life, greater strength and increased wisdom as he continues his service to the nation,” the President concluded.

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FCCPC Seals Paradise Estate Over Consumer Rights Violations

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Paradise Estate Abuja

By Adedapo Adesanya

The Federal Competition and Consumer Protection Commission (FCCPC) has sealed Paradise Estate in Life Camp Extension, Abuja, following serious allegations of consumer rights violations.

The action was taken due to the estate’s alleged failure to deliver housing units to buyers despite receiving full payment.

The FCCPC also cited multiple public complaints and other offences as grounds for the enforcement.

According to the commission, numerous complaints had been lodged against Paradise Estate, but the management repeatedly failed to comply with regulatory directives.

The non-compliance prompted the FCCPC’s visitation and eventual sealing of the premises.

Speaking to reporters, the FCCPC’s Deputy Director of Surveillance, Marvin Nadah, noted that the developer was given a seven-day window to respond to an official summons but failed to comply.

In its defence, Paradise Homes’ Head of Legal, Mr Aloysius Ezenwa, argued that the transactions were protected under the existing “Contract of Sale.” The company expressed its dissatisfaction with the sealing, maintaining that the dispute is a contractual matter that should be settled before a tribunal.

However, the FCCPC maintained that its actions were lawful and that it had not been served with any court appeal to halt the process.

The commission reiterated its stance on prioritising the rights of Nigerian consumers and ensuring developers are held accountable.

It noted its commitment to protecting consumers from unfair business practices and warned other real estate developers to adhere strictly to contractual obligations and consumer protection laws.

The FCCPC’s involvement in a housing complaint comes after a Federal High Court in Abuja ruled that the organisation has the powers to investigate consumers’ complaints involving banks and other financial institutions.

The banks, the court ruled, are answerable to FCCPC. It dismissed a suit filed by the United Bank for Africa (UBA) and slammed N2 million on it.

The decision has been described as a big win for bank customers.

In a statement signed by its Corporate Affairs Director, Mr Ondaje Ijagwu, FCCPC’s chief executive, Mr Tunji Bello, said, “This is a big victory for bank customers.”

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NPA Onne Honours Retirees

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Onne Port complex retirees

By Bon Peters

Retirees of the Nigerian Ports Authority (NPA) Onne Port complex in Rivers State were honoured at an event on Wednesday, April 22, 2026.

The ceremony was full of conviviality, renewal of camaraderie and more importantly a demonstration of love, affection and commitment as shown to the retirees by the management.

The Port Manager for Onne Port Complex, Mr Abdulrahmon Hussain, informed newsmen that the event was to appreciate the retirees who have shown commitment, laid foundation and also mentored most of the workforce at Onne.

“What the Nigerian Ports Authority Onne Port complex management is doing today is to appreciate our retirees,” he said.

“We believe that the foundation we are standing on today was laid by them. While in service, they have mentored our junior staff and contributed immensely to the growth and development of the Port.

“Simply put, you know here is referred to as a family Port and we want to sincerely show them that they are still members of the family though retired,” he added.

Mr Hussain also praised the Managing Director of the NPC, Mr Abubakr Dantsoho, for giving welfare of employees a priority.

“Today’s event is the first of its kind at our Port but we promise to make it more memorable going forward.

“Apart from the multivitamins and other drugs we provided for them, I feel the most important thing is the demonstration of love and care which the management has shown them today, and I promise that the management will do more next year,” he stated.

Also speaking, the Chief Medical Officer (CMO) of Onne Port complex Dr Bashir Kangiwa, applauded the Port Manager for the initiative describing it as the first of its kind.

He noted that when he was assigned to carry out the project from the Medical Department, he embraced the responsibility with all arms and was happy it was successful.

He hinted that the NPA has a policy that even as a retiree, they enjoy an unhindered access to the company’s medical facilities and could also be referred to another hospital if the ailment is beyond the organisation’s control.

One of the retirees, Mr Ndudim Amos Nwaji, a former NPA Senior Staff Association Chairman, thanked the management of Onne Port complex for the gesture.

He advised those in the leadership position of this country to borrow a leaf from the NPA management, insisting that the senior citizens of this country should be taken care of.

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