EFCC offers whistleblowers up to 5% of recovered overseas assets
EFCC offers whistleblowers up to 5% of recovered overseas assets
The Economic and Financial Crimes Commission (EFCC) has offered whistleblowers between 2.5 and five per cent of assets recovered through credible information about Nigerian wealth stolen and concealed abroad.
EFCC Chairman Ola Olukoyede announced the incentive on Wednesday, while speaking at the 43rd Cambridge International Symposium on Economic Crime at Jesus College, Cambridge, United Kingdom.
Olukoyede urged people with actionable intelligence on monetary and non-monetary Nigerian assets hidden anywhere in the world to approach the commission.
“If any one of you is privy to where Nigerian assets are stolen or taken to anywhere in the world, we have an incentive for you; between 2.5 per cent and five per cent,” he said.
He explained that payment would only be made after the information led to an actual recovery, adding that a successful whistleblower could earn millions from a major case.
Olukoyede also disclosed that the commission had recovered and secured the forfeiture of cash and other assets valued at more than $500m since he became chairman less than three years ago.
He attributed the recoveries to effective investigations, credible intelligence and judicial support, particularly the use of non-conviction-based forfeiture proceedings. This process allows authorities to pursue assets reasonably suspected to be proceeds of crime without first securing a criminal conviction.
Among the cases cited was the forfeiture of a 753-unit estate in Abuja that the EFCC linked to former Central Bank of Nigeria Governor Godwin Emefiele, not 752 units as initially reported. The commission also cited aircraft, houses, estates and a university recovered through court proceedings. EFCC
Olukoyede said investigations involving former Attorney-General of the Federation Abubakar Malami identified 57 properties, with a Federal High Court ordering the final forfeiture of 48 in July. Malami, who is separately facing money-laundering charges, has pleaded not guilty.
SOURCE: NEWSSCROLL
