Acting Chairman, Economic and Financial Crimes Commission, EFCC, Ibrahim Magu has vowed to recover all public funds siphoned under the guise of arms procurement by prominent Nigerians now in its custody.
Magu, who stated this at events to mark this year’s International anti-corruption day in Abuja, added that his men are working hard to recover the stolen funds, even as he disclosed that substantial amount of the money have been recovered from fraudsters.
“I can assure you that the commission is on top of that investigation. We will spare no effort to ensure that we recover every kobo of public funds that have been stolen in the guise of arms procurement and the culprits brought to justice,” he said.
The Chairman also disclosed that the commission has secured 78 convictions from 280 cases filed in court this year while 1,881 cases were being investigated.
Besides, he said several interim and final forfeiture orders were given by the courts even as funds are being recovered.
The acting EFCC boss, as many other speakers, praised the Buhari government for creating an enabling environment to fight corruption and promised that the commission will fight corruption in a firm, fair, accountable and transparent manner.
Magu said he had embarked on internal cleansing of the commission to improve efficiency and re-position it to deliver on its mandate. He listed the implementation of its strategic plan and other institutional reforms as measures to increase the capacity to fight corruption.
He also sought the co-operation of all civil society organizations and other critical stakeholders in the battle against corruption as a concerted effort to surmount all hindrances.
Earlier the Attorney-General and Minister of Justice, Mr. Abubakar Malami expressed regret that corruption had stunted the capacity of the country to attain economic development even as he restated the resolve of President Muhammadu Buhari to purge the nation of this cankerworm.
Specifically, he identified a linkage between good governance and economic development and bemoaned the poverty level in the country despite its potentials. “There is a wide gap between revenue generation, appropriation, utilization, public officials’ transparency, probity and the effect on the nation’s development”, he stated.
The minister, represented by Barrister Sylvester Imanhobe, said the country’s profile is worrisome, listing high cost of doing business owing to poor power supply, official corruption and high crime rate; high maternal mortality and large number of children out of school; high illicit capital flight and 800,000 deaths on the highways every year.

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