– EFCC Chairman Ola Olukoyede says recovering stolen money becomes difficult once it has been taken, with only 60 per cent potentially recoverable.
– He urges Nigerians to report suspected corruption and financial crimes to the commission.
– Olukoyede spoke at the opening of the EFCC’s zonal office in Awka, Anambra State.
The Economic and Financial Crimes Commission (EFCC) has highlighted the challenges of recovering proceeds of financial crimes, with its chairman, Ola Olukoyede, saying the commission can retrieve only about 60 per cent of stolen funds.
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Olukoyede made the observation on Friday at the inauguration of the commission’s zonal office in Awka, Anambra State, where he called for greater emphasis on preventing corruption and fraud.
He said experience had shown that recovering money after it had been stolen was difficult, making prevention a more effective way of tackling financial crimes.
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“I have discovered that when money has been stolen, the best you can recover is 60 percent,” he said.
The EFCC chairman urged members of the public to promptly report suspected corruption cases to the commission, stressing the importance of citizens’ cooperation in the fight against financial crimes.
He also said the commission’s presence in Anambra was intended to support the state’s economic development.
Olukoyede maintained that efforts to prevent the diversion of public and private funds should take priority, rather than relying mainly on investigations and asset recovery after financial crimes have occurred.
