Finance Minister Demands Records of Recovered Loots from EFCC.

The activities of the Economic and Financial Crimes Commission (EFCC) are coming under the scrutiny of the Finance Ministry, following a request to the Commission to produce records of cash recoveries it made from across the country since the beginning of the Muhammadu Buhari administration.

The EFCC had announced cash asset recoveries in both naira and foreign currencies, from alleged looters of the Nigerian treasury and also recovered some monies hidden across the country by politicians and failed government contractors.

In the letter dated 9 February 2018 with the title “Summary Of Economic And Financial Crimes Commission (EFCC) Recoveries From May 2015 – January 2018” signed by Kemi Adeosun, the finance minister requested the Commission to furnish her ministry with details of the cash recoveries between 2015 to date including banks where the monies are deposited as well as accompanying evidences.

In the letter with reference no FMF/HMF/ EFCC/S-EFCC-REC/2018/1, and addressed to Magu, the minister said the figures that were announced in the media by the Commission did not tally with the records at the Office of the Accountant-General of the Federation (OAGF).

The letter reads ‘”This is to notify you of the records of cash asset recoveries in the custody of the Economic And Financial Crimes Commission (EFCC) From May 2015 till date, based on information available to the Office of the Accountant -General Of the Federation (attached)”.

“It has however come to the attention of the Ministry of Finance, the use of recovery figures in media reports by the EFCC that do not reconcile with the records of the Ministry. You are therefore kindly requested to clarify where these cash recoveries have been deposited and provide accompanying evidence,” the minister said in her letter.

In a clarification statement, on Sunday, Adeosun however, said her “innocuous letter to the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, on cash recoveries by the Federal Government,” were been misrepresented by the media.

Mr. Oluyinka Akintunde, media aide to Adeosun said “the minister wishes to state explicitly that the letter dated 9thFebruary, 2018, was a standard letter aimed at improving controls over the recovered funds”.

He added that “there is no ulterior motive behind the letter as alleged in some media reports but to enable the reconciliation and harmonization of the figures on recovered funds by the Government”.

“For the avoidance of doubt, the EFCC has subsequently provided the requested information and reconciliation is ongoing,” he further said.




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