EFCC Transfers Recovered Assets, $50M to Foreign Victims

Abuja, Nigeria — The Federal Government has returned over $50 million in recovered assets to the governments of Spain, Switzerland, and the United States for onward restitution to victims of financial fraud.

During the handover ceremony, Economic and Financial Crimes Commission (EFCC) Chairman, Ola Olukoyede, emphasized that the restitution aligns with Nigeria’s commitment to combating financial crimes and restoring its global reputation.

Addressing representatives from the US Embassy, Spain, and Switzerland, Olukoyede stated that the initiative reflects President Bola Tinubu’s administration’s determination to change the perception of Nigerians regarding cybercrime. He urged foreign governments to reciprocate the gesture by returning Nigeria’s stolen assets currently held in their jurisdictions.

Speaking on behalf of the victims, Spanish Ambassador to Nigeria, Maria Higon Velasco, and FBI Legal Attaché, Charles Smith, commended the EFCC’s swift efforts in recovering and returning stolen funds.

The Permanent Secretary, Ministry of Foreign Affairs, Dr. Ahmed Dunoma, noted that the move strengthens Nigeria’s integrity and boosts investor confidence in the country’s financial system.

Beyond the monetary restitution, the EFCC also returned ₦70 million, two Mercedes-Benz vehicles, and a residential bungalow in Kaduna to their rightful owners.

By Taiwo  Olatinwo | February 22, 2025