Recovered monies are returned to the rightful owners – EFCC

By Ezekiel Enejeta
The Economic and Financial Crime Commission (EFCC) has cleared the air on the destination of all recovered funds in the cause of the fight against corruption.

While providing answers to frequently asked questions on on how recovered corruption proceeds are used, the EFCC said: “So we’ve received way too many questions regarding the destination of recovered funds”.

“Recovered monies are returned to the rightful owners. It could be an individual, organisation or the state. In the case of the State, the monies are paid into the Consolidated Revenue Fund of the Federation”.
Recall that the Economic and Financial Crimes Commission (EFCC) recovered the sums of $9.8m and £74, 000 in former group managing director (GMD) of the Nigeria National Petroleum Corporation (NNPC), Andrew Yakubu’s house in Kaduna.
The handler said: “After the law takes its course, recovered monies are paid into the Consolidated Revenue Fund of the Federal Government”.
“Our job is to investigate and prosecute. Recovered monies are paid into the Consolidated Revenue Account of the FG”.
Consolidated revenue account is government’s purse in which all government receipts are paid into and expenditure allocated from this account and is usually estimated in the constitution.
The response was immediately retweeted by @AbikeDabiri, the Special Adviser to President Muhammadu Buhari on foreign affairs.