EFCC promises 5% reward for whistleblowers of loot recovered from corrupt Nigerians stashed abroad
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC) Ola Olukoyede has stated that whistleblowers who offer information on assets kept abroad in any part of the world by corrupt Nigerians stand to get a reward of between 2.5 and 5% of the recovered loot. He therefore called on whistleblowers across the world […] The post EFCC promises 5% reward for whistleblowers of loot…
The EFCC's Executive Chairman, Ola Olukoyede, has announced a reward of between 2.5% and 5% of recovered assets for whistleblowers providing information on Nigerian corrupt officials' stashed assets abroad. Speaking at the Cambridge International Symposium on Economic Crime in the UK, Olukoyede encouraged whistleblowers worldwide to share intelligence on monetary and non-monetary assets taken by corrupt Nigerians.
He urged anyone with knowledge of where these assets are located to come forward and assist in their recovery. In less than three years, the EFCC has recovered over half a billion dollars from corrupt Nigerians, attributing the success to their investigators' resourcefulness, the judiciary's strength, and access to credible intelligence.
The country's non-conviction-based asset forfeiture approach, similar to that in Australia and Canada, allows the Commission to seek forfeiture of suspected proceeds of crime without a criminal conviction. Notably, the EFCC has forfeited 752 housing units to the government, linked to former CBN Governor Godwin Emefiele, and 48 out of 57 houses suspected of corrupt practices, stemming from investigations led by former Attorney General and Minister of Justice Abubakar Malami SAN.
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