The Economic and Financial Crimes Commission (EFCC) has returned a total of $132,362.43 and N78,566,324.81 to victims of fraud from the United States, Spain, and Switzerland. The agency also handed over vehicles and real estate documents to representatives of these countries for onward restitution to affected individuals.
During the handover ceremony at the EFCC’s headquarters in Abuja on Friday, EFCC Chairman Ola Olukoyede emphasized the commission’s commitment to not only recovering stolen funds but also ensuring they reach the rightful victims.
“We don’t just recover; we restitute the victims,” Olukoyede said. “We are here this morning to provide restitution to those who suffered due to economic and financial crimes. Once proceeds of crime are recovered, the most responsible course of action is to return them to the victims.”
He also called on foreign countries holding assets and funds recovered from economic criminals to release them to Nigeria.
“We are using this opportunity to appeal to those countries holding proceeds of crime recovered on behalf of Nigeria not to continue to sit on those assets because they belong to Nigeria. They should do everything possible to ensure that these assets are repatriated,” Olukoyede urged.
Breakdown of Returned Funds and Assets
Representatives from the U.S., Spain, and Switzerland were present at the event to receive funds and assets on behalf of fraud victims in their countries.
- Spain’s Acting Ambassador to Nigeria, Maria Velasco, received $1,300 and confirmation of a N30 million transfer already made to the Spanish Embassy for a victim, Maria Del Rosario San Jose.
- Senior Political Officer and First Secretary at the Embassy of Switzerland, Florent Geel, collected $100,011.43 on behalf of a Swiss fraud victim, Chantai Helene Lavancy (formerly known as Chantai Helene Maeder).
- Charles Smith, Legal Attaché at the Federal Bureau of Investigation (FBI), received $7,344, N7,963,483.35, and Bitcoin cryptocurrency valued at $4,470 for a victim, Maria Jesus Brockell.
- The EFCC also returned a residential bungalow at 17/19 Seaman Street, Unguwar Maigero, Kaduna, Kaduna State, to the U.S. Embassy for onward transmission to another crime victim.
- Other restitutions included $7,527 for Michael Smith and $11,710 for Cheryle Williams, both U.S. citizens.
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Foreign Officials Praise EFCC’s Efforts
The representatives of the affected countries praised the EFCC for its dedication to fighting financial crimes and ensuring justice for victims.
Charles Smith of the FBI commended the EFCC for its global impact, noting that its work extends beyond Nigeria.
“As the FBI Legal Attaché and the representative of the U.S. government, I want to say we personally appreciate this,” Smith said. “Many here may not understand the impact this has on the victims. This gives them complete closure and allows them to feel whole again. So we really do appreciate it, and we thank the EFCC. The EFCC is not just operating in Nigeria; it is a major global contender, and you should recognise that every time.”
Spain’s Acting Ambassador Maria Velasco also expressed her gratitude for the collaboration between the two nations.
“This is a sign of the collaboration between Nigeria and Spain, and we are very grateful for this cooperation,” she said.