EFCC offers 5% reward for tips on stolen Nigerian assets abroad – Olukoyede
The EFCC Chairman, Ola Olukoyede, announced a 2.5-5% reward for whistleblowers providing tips on stolen Nigerian assets held abroad, aiming to recover illi Read More: https://punchng.com/efcc-offers-5-reward-for-tips-on-stolen-nigerian-assets-abroad-olukoyede/
Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission (EFCC), has announced a reward system for tips leading to the recovery of stolen Nigerian assets abroad. Whistleblowers could receive between 2.5% and 5% of the recovered assets. This offer was made during a lecture at the Cambridge International Symposium on Economic Crime in the United Kingdom.
The EFCC's success in tracing assets and obtaining forfeiture orders is attributed to its skilled investigators and cooperation from the judiciary. In the past three years, the agency has forfeited assets worth over $500 million to the Federal Government. Olukoyede highlighted successful cases involving a former Central Bank of Nigeria chairman and an ex-Attorney-General of the Federation.
The agency has the constitutional power to seek the forfeiture of suspected crime proceeds by applying ex parte to the High Court. Notable forfeitures include an aircraft from a $30 million bribe case and properties belonging to a former CBN chairman and the immediate ex-AGF, Abubakar Malami.
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