EFCC Recovers N266bn from Debtors

The Economic and Financial Crimes Commission (EFCC) says it has recovered N226 billion from various debtors within the past one year.

A breakdown of this figure shows that N171 billion was recovered from bank debtors while N55 billion was recovered from individuals and organizations.

The head of operations EFCC Port Harcourt, Mr Hycienth A. Edozie said this in a paper he presented at a one day capacity building workshop on Raising Integrity Standards In Public Civil Service organized by the Rivers State Directorate of the National Orientation Agency (NOA) in Port Harcourt.

Mr Edozie also said that the commission instituted 400 cases in different courts while about 70 convictions were secured within the period under review.

He said that the commission also found 30 companies wanting on tax related offences, positing that these 30 companies will face prosecution in the court by January, 2010.

Meanwhile, the Economic and Financial Crimes Commission (EFCC) says its efforts in tracing and recovering looted funds stashed abroad by corrupt Nigerians is being hampered by the unco-operative attitude of some countries.

The commission’s head of operations in Port Harcourt, Mr Hycenth Edozie who said this in Port Harcourt also listed other factors inhibiting the commission’s operations to include, the slow justice system of the country outdated evidence law, constitution, immunity and absence of a non conviction base regime in asset recovery.