Nigeria’s EFCC has recovered almost $500 million in misappropriated funds over the past year while securing over 4,000 criminal convictions, marking its most successful year since inception. Despite these achievements, Nigeria ranks 140 out of 180 on the Transparency International’s Corruption Perceptions Index, highlighting ongoing corruption issues.
The Economic and Financial Crimes Commission (EFCC) of Nigeria has announced significant achievements in its anti-corruption initiatives. In the past year, the agency recovered nearly $500 million in misappropriated funds and secured over 4,000 criminal convictions, marking its highest annual performance since its inception. This impressive recovery is part of broader anti-corruption measures implemented under the administration of President Bola Tinubu.
In addition to the monetary recoveries, the EFCC seized substantial assets, including 931,052 metric tons of petroleum products, 975 real estate properties, and various company shares. Notably, the amount recovered aligns with the estimated losses attributed to corruption in 2022. Cybercrime perpetrators represented a significant portion of the convictions, with 3,455 individuals found guilty during this timeframe.
Corruption remains a pervasive issue in Nigeria, hindering its development as Africa’s most populous nation and fourth-largest economy. Despite ongoing anti-corruption efforts, Nigeria’s position is still concerning, ranking 140 out of 180 on Transparency International’s Corruption Perceptions Index (CPI), reflecting the persistent challenges the country faces in eradicating corruption from its institutions.
Globally, South Sudan has the highest corruption ranking at 180th with a score of 8, followed by Somalia and Libya, which are ranked 179th and 173rd, respectively. These rankings underscore the widespread problems related to weak governance and institutional integrity across these nations, exacerbating the corruption crisis.
The EFCC’s recovery of nearly $500 million and 4,000 convictions highlights ongoing anti-corruption efforts in Nigeria. However, the country’s low ranking on the Corruption Perceptions Index indicates that much work remains to be done in combating corruption effectively. As Nigeria continues to confront these challenges, the results from the EFCC serve as a crucial part of the wider struggle against corruption in the nation and the continent.
Original Source: africa.businessinsider.com
