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EFCC recovers N1.667trn for AMCON In 3 years

Operatives of the Ilorin Zonal Office of the Economic and Financial Crimes Commission (EFCC), have arrested 30 suspected internet fraudsters, also known as Yahoo-Yahoo Boys
Economic and Financial Crimes Commission

By Tordue Salem

The Assets Management Corporation of Nigeria (AMCON) on Tuesday, told the House of Representatives, that the corporation, received N1, 667, 582, 605.04 recovered by the Economic and Financial Crimes Commission (EFCC) between 2017 and July 5, 2021.

The agency gave the testimony to the House Ad-Hoc Committee on Assessment and Status of All Recovered Loots during an investigative hearing in Abuja.

The letter was signed by the Managing Director, Ahmed Lawan Kuru and Group Head, Enforcement, Joshua Ikioda.

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AMCON stated that remittances to the Corporation in 2017 amounted to N1, 178, 764, 500 for the credit of nine debtors.

For recoveries made in 2019 it said received N356, 318, 105.08 on 21st September 2020 on account of seven debtors.

AMCON said it received a letter dated 17th December 2019 from the EFCC forwarding promissory notes on account of four debtors to the tune of N1, 194, 778, 813.

The Corporation said however, the notes were returned to the EFCC through a letter dated 28th October 2019 as they were made out by the Debt Management Office.

The letter detailed that the schedule forwarded to the Corporation by the Committee indicated remittances by EFCC of the sum of 87, 495, 087.50 in 2020.

But the agency said it is yet to receive the quoted amount as it might be collections yet to be released to the Corporation.

Besides the hearing, the Nigeria National Petroleum Corporation (NNPC) said it was working to recover debts from some banks for the Nigerian Liquefied Natural Gas (NLNG) dividend funds.

The committee, led by Rep. Adeogun Adejoro, also directed that the NNPC should submit all its accounts by its next sitting next week Tuesday.

Adejoro said all debt owed the government must be vigorously pursued as money is needed to fund the 2022 budget.