Business Hilights
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Recovered loots wired into FG’s account —EFCC opens up

The Economic and Financial Crimes Commission (EFCC) has revealed after so much pressure on the side of government that all looted funds recovered by it are paid into the consolidated revenue account of the Federal Government.

This was disclosed on EFCC’s Twitter handle, @officialefcc in response to a question from one of its followers.

In a tweet to the commission through the handle @asantoo11a, the follower had asked; “When are we sharing our recovered looted money’’.

The circle of the tweet followed thus: “Recovered funds are paid into the consolidated revenue account of the Federal Government,’’ it tweeted in reply.

The EFCC also said there was no hiding place for looters, including those who travel abroad to evade the arm of the law.

“Our network of partners includes the FBI (Federal Bureau of Investigation) and other international law enforcement agencies.

“Perpetrators cannot hide forever. Send a petition,’’ it said in response to an enquiry by one Biyi Soremekun.

Using the handle @adebiyie200, Soremekun asked what would happen in a situation where an individual travels out of the country after perpetrating fraud.

He said “What happens in a situation where someone defrauds you through issuance of dud cheques or falsification of land documents and leaves the country before you realise it.”

The commission advised victims and members of the general public to forward their petitions through its offices nearest to them, adding that they could do so anonymously.

Still on the recovered fund, Business Hilights recalls that the Vice president, a Senior Advocate of Nigeria (SAN) had at different for a made it clear to Nigerians that even though some funds have been recovered and are government’s coffers, some legal issues hanging around it have not made really accessible to the government. This may be why the fund is still idle.