FRAUD: $217bn Taken Out Of Nigeria Illegally Between 1970 Till Date – EFCC

By -
According to Punch News Nigeria - Source

Nigeria has recorded illicit financial outflows of $217.7bn in 38 years, specifically between 1970 and 2008, the Economic and Financial Crimes Commission, said in Abuja on Wednesday.

The commission stated that the various investigations, arrests, prosecution and assets recoveries over the years had confirmed that the level of corruption in Nigeria had been truly staggering.

The Acting Chairman of EFCC, Ibrahim Magu, represented by its Acting Spokesperson, Tony Orilade, expressed these views at a one-day conference organised by Online Publishers Association of Nigeria with the theme: “Free press and objective reporting in the 2019 election year.”

The EFCC boss said corruption in Nigeria was being perpetrated by individuals and groups both in the private and public sectors.

He identified former state governors, ministers, high ranking military officers, chief executives of parastatals and top bureaucrats in state and federal agencies as culprits involved in the public sector theft.

Magu said, “The alarming rate of corruption committed by these unpatriotic elements can be partly seen in the number of convictions secured by the EFCC from Nigerian courts since I assumed duty as the head of the commission in 2015.

“The figure stands at 103 in 2015, 195 in 2016, 189 in 2017 and 312 for the period of January to December 2018. The total figure for the period of 2015 to 2018 is a mind-blowing 799 convictions. In the process of such convictions, the EFCC recovered N794.5bn, $261m, £1.1m, €8.1m and CFA86, 500.

“One of the most graphic ways through which the absence of democratic accountability manifests itself in Nigeria today is through the prevalence of rampant corruption at all levels of governance. For example, Transparency International reported that Nigeria was the most corrupt country in the world for years: 1996, 1997, 2000 and second in the line for remaining years up to 2003.

“In February 2015, a high-level panel on illicit financial flows from Africa constituted by the African Union, under the chairmanship of a former President of South Africa, Thabo Mbeki, revealed that Nigeria ranked first among ten African countries by cumulative illicit financial flows between 1970 and 2008. The total outflow from Nigeria for the period was $217.7bn constituting about 30.5 per cent of Africa’s total share.”

 Source

https://punchng.com/217bn-taken-out-of-nigeria-illegally-in-38-years-efcc/

Comments

Post a Comment

Kindly tell us what is in your mind here

Most Read Posts Stories

Cops Who Killed Osaze Osagie, Nigerian Student In US, Cleared Of Charges

By -
Image
State College cops who killed Osaze Osagie, a Nigerian student in the United States, have been cleared of all charges. The police officers had implemented the use of force while serving a mental health warrant that resulted in the death of Osaze Osagie on March 20. According to a the Centre County District Attorney Bernie Cantorna, the officers were in a “life-and-death situation” when they shot Osagie who was approaching them with a 5.16-inch steak knife, Onwardstate reports. Osagie died of multiple gunshot wounds after the confrontation at his apartment on Old Boalsburg Road. No charges will be filed against any of the officers involved in serving the warrant, and none of them were referenced by name by Cantorna. “Given the distance between Mr. Osagie and the officers and the speed at which Mr. Osagie was moving, Mr. Osagie had ample opportunity to seriously injure and potentially kill both officers,” Cantora said in a press conference. “The time that Officer No. 1 shot, there was n...
Read more »

Women, See Where Your Human Hair Wigs Come From (Photos)

By -
Image
The " human hair" / hair extension industry is one of the major Industries in the Beauty and Fashion World. A lot of women from different races and from different continents have adopted the use of hair extensions or wigs for the enhancement of beauty. This doesn't only apply to African women but also Europeans and Americans . However , there is no denying the fact that Africans are the most users of these human hairs , weaves or extensions. Here , we bring to you some interesting facts about your human hair wigs; including where they are gotten from. It can take several days to make a high quality wig. In the first process, the hair needs to be sorted and untangled . Then the lice (if any) has to be removed out of the hair strands. The mid-processes would include washing, removal of moisture, and addition of color. After that, it is then made into a weave or wig. Where Do They Come From? Perhaps the mention of "Lice" in the above paragraph may have gotten your ...
Read more »

Indonesian Man Forced To Show Joystick To In-laws To Prove He Didn’t Kill Wife

By -
Image
A grieving husband has been forced to show officials his genitals to prove that he didn’t kill his wife. Identified only as Barsah, he was taken in for questioning following the death of the young woman, 23. His father-in-law Nedi Sito claimed she died during sex as a result of the size of his joystick on February 26. Police in Indonesia then made him show his joystick to them, his late wife’s relatives, and other officials from their village. It was found that he had a normal sized joystick. The wife was found dead in her bed in Maron Kidul, in the country’s East Java Province. She had suffered an epileptic fit during the night but Mr Sito heard rumours from a neighbour that Barsah had accidentally killed her during sex. The head of the local police department said: ‘After seeing directly the Instruments that was thought to be over-sized, it turned out to be of a standard size. ‘So right there and then the father-in-law dropped the report and they apologised to each other.’ Mr Sito s...
Read more »

Prophet TB Joshua Heals Man Who Has Persistent Erection After Sleeping With Prostitute

By -
Image
5 MONTHS OF AGONY BROUGHT TO AN END This young man learnt the hard way that patronizing prostitutes is not a child of God’s way. Ironically, it was after he went to church with his father, later that day, he went out to meet a prostitute. When he got home that evening, his erection remained. As a result, he could hardly stand or move, even sitting was difficult. Sunday was forced to explain his plight to his father who took him to the doctors who could only recommend an operation. They declined and continued making efforts to solve his excruciatingly painful problem. Sunday became housebound for five months because of the permanent erection! His father, a reputable man in Ondo state, recalled that a man had visited The SCOAN with the same problem and was healed and so, he brought his son. When Prophet T.B. Joshua prayed for Sunday, his whole body began to shake. After the prayer, Prophet T.B. Joshua told him to urinate. As Sunday urinated, the pain and poisonous substances left his bod...
Read more »

Five Men Arrested For N466m Fraud After Hacking Into Bank’s Application

By -
Image
The Economic and Financial Crimes Commission, EFCC, Kaduna Zonal Office on January 16, 2019 arraigned Bashir Abdullahi Mohammed, Oche Ogenyi, Adefila Taofile Kayode, Rabiu Aliko Lawal and Mmadu Mathew before justice Mohammed Tukur of a Kaduna State High Court, on a two-count charge bordering on conspiracy and stealing to the tune of N466, 000, 000 (Four Hundred and Sixty Six Million Naira) only. They were arrested following a petition by Polaris Bank, alleging that they hacked into the bank’s application, and fraudulently increased the N781,000 in one of the customer’s bank account to N466 million. One of the counts reads: “That you Bashir Abdullahi Mohammed, Oche Ogenyi, Adefila Taofile Kayode, Rabiu Aliko Lawal, Mmadu Mathew Onyekachi, and others now at large, sometime in 2018 in Kaduna within the judicial Division of the High Court, did conspire amongst yourselves to commit theft of the sum of N466 million and you thereby committed an offence contrary to 58(1) of the Penal Code Law...
Read more »

US Betrayed Me For Deporting My Mom, Says US Army Officer

By -
Image
US Betrayed Me For Deporting My Mom, Says US Army Officer (CNN) A US Army officer got a call he was dreading on Thursday. His mom had been deported to Mexico. She called her family from the other side of the border to let them know. "I feel betrayed, to be honest," 2nd Lt. Gibram Cruz told CNN affiliate KSWB. "A country that I'm serving, which I've served proudly... These policies that are put in place to keep my family safe have let me severely down." Cruz and his family had been trying for months to convince officials to let his mother, Rocio Rebollar Gomez, remain in the United States. The case drew national attention last month when the US Army officer flew home for the holidays and told the San Diego Union-Tribune he feared it would be their last Christmas together. Traveling to see her in Mexico wouldn't be possible due to military restrictions, he told reporters Thursday. Immigration and Customs Enforcement said Rebollar Gomez was deported Thursd...
Read more »

Groom's Ex-Girlfriend Crashes His Wedding In China Wearing A Bridal Gown

By -
Image
An embarrassing drama occurred at a wedding in China as a spurned lover gate-crashed her ex-boyfriend's wedding to another woman wearing a bridal gown to beg him to come back to her. In the viral video, the visibly emotional ex-girlfriend can be seen yelling at the groom 'it was my fault' while kneeling in front of him as his bride watched on in shock. The ex-lover was said to have stormed the ceremony when the groom was about to kiss the bride on a stage. The drama didn't go down well with the bride, as she was forced to leave the venue, looking angry. According to Star Video, affiliated to Hunan Legal Channel, the groom broke up with his ex-girlfriend because their personalities were too different. He appeared to be caught in surprise when the woman suddenly showed up at his wedding uninvited, also wearing an elaborate white dress. His ex-girlfriend begged him to forgive her and give her another chance while the man held his stunned fiancée's hand in an attempt t...
Read more »

This Is How Snakes Get Into Your Toilet Sink And Bathroom

By -
Image
The thought of snakes in the toilet sink or bathroom is enough to make most people to get creeped out or irritated. The real truth is that these slithery dangerous reptiles really gets into people's toilet and bathroom. Most people wonder how come these reptiles get into toilets and bathrooms, some people don't even believe it is possible but I'm here to analyze how this happens and what you should do, precautions to take in order to prevent such an occurrence. Normally, different reptiles and rodents such as rats, frogs and even cockroaches find their way into people main building through the pipes. Snakes are very much dangerous, that is why it is of higher concern to a lot of people. Now let's get down to business. When talking about snakes getting into the toilet sink, some people think or assume that there's already water inside the toilet sink, but if you know about plumbing you'll discover that the toilet sit is designed in such a way that the water stay...
Read more »

Thousands of migrant children report that they were sexually abused while in US custody

By -
Image
As though the heartbreak at being separated from their parents at the borders were not enough, a large number of migrant children held at different facilities at the U.S Southern border are saying they were sexually abused while living in the government-administered shelters.  According to federal records released Tuesday, in the past four years, 4,556 children said immigrant children who arrived at the southern U.S. border without their parents have reported being sexually abused while in government custody. Allegations go back to 2015, meaning the reported assaults started under the Obama administration. But the allegations have increased in the past two years after the Trump administration's "zero tolerance" policy that led to at least 2,800 family separations flooding the shelters with additional children. The data from the Department of Health and Human Services was made public by Ted Deutch, the US Rep. for Florida's 22nd ...
Read more »

N5.5bn SUVs: If Democracy Is Expensive, Try Dictatorship - Nigerian Senator Adedayo Adeyeye

By -
Image
If you think democracy is expensive, try dictatorship’ — senate spokesman defends ‘N5.5bn SUVs’ Adedayo Adeyeye, spokesman of the senate, has defended the decision of the national assembly to purchase sport utility vehicles (SUVs) reportedly worth N5.5 billion for its members. Justifying the decision, Adeyeye said if Nigerians think democracy is expensive because of the legislature they could experiment with dictatorship and do a cost analysis. Adeyeye said this when journalists asked him about the huge sum earmarked for the purchase of cars by the legislature on Tuesday. He wondered why the case of the legislature would be different when officials in the executive and in the judiciary have vehicles. “In this country, legislators, ministers and civil servants were provided houses and then the policy was stopped,” he said. ”As of today, most government officials have official vehicles the same way judicial officials have. I have asked the question several times why that of the legisl...
Read more »

More Stories

Show more