Anti-Graft: EFCC, ICPC Recover Over N1trn Assets In 7 Years – PACAC

The Presidential Advisory Committee Against Corruption (PACAC), has stated that the various anti-graft agencies, the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and other related offences Commission (ICPC) have recovered assets worth over one trillion naira in the last seven years.

This is just as the two organisations have also secured no fewer than 3000 convictions of corrupt individuals within the same period adding that during the period under review also, the ICPC dragged at least 2000 companies into the tax net. Chairman of PACAC, Prof. Itse Sagay (SAN), made the disclosure at a press conference in Abuja on Friday.

According to Sagay, the news came because of the need to provide an update on the efforts of the committee, in liaison with anti-corruption agencies, to tame  the monster in the polity. He stated that “Convictions of more than 3000 corrupt persons, including high profile politicians within the last 7 years.

“Recovery of enormous amounts of assets from corrupt persons to the value of about One Trillion Naira; “Recovery of Abacha loot from USA, Switzerland, U.K., Jersey Island almost to the tune of One Billion Dollars”.

For the ICPC, Sagay stated thus: “Over 2000 companies were brought into the tax net by ICPC profiling companies under investigation. “Investigation of MDAS, companies and project sponsors who abandoned, diverted or under-delivered on approved and funded projects under zonal intervention projects (ZIPs) leading to return of about 300 contractors to complete and correct abandoned projects; -CEPTG (Constituency & Executive).

“Seizure of diverted job creation items like tricycles, motorcycles, grinding machines, electric transformers valued at over N400m in Enugu thus creating about 500 jobs”.