EFCC Chairman Seeks Amendment Of Act To Allow Agency Keep A Percentage Of Recovered Loots

Acting Chairman of EFCC, Ibrahim Magu, says the act establishing the agency should be amended so as to enable it keep a percentage from the loots recovered from corrupt individuals. Speaking at the opening of the national anti-corruption conference organised by the Presidential Advisory Committee against Corruption, PACAC, and the National Assembly in Abuja yesterday, Magu said this is the case in other parts of the world.

“In some jurisdictions like the UK, proceeds of crime are further used to strengthen the agency. In EFCC, we have been struggling for years to build our headquarters and when I think of the billions of naira we recover, I can see what would have happened if we are allowed to apply a percentage of this recovery into our operations. There is the need for the Act to make a provision for an application of the proceeds of crime into recapitalising the anti graft agencies”he said