The Economic and Financial Crimes Commission (EFCC) has returned a total of $120,548.43 and N70,602,841.46 to American, Spanish, and Swiss nationals who fell victim to fraud schemes orchestrated by Nigerian fraudsters. Naija247news reports that the funds, recovered from convicted criminals, were handed over to the victims as part of the EFCC’s commitment to justice and financial restitution.
Thank you for reading this post, don't forget to subscribe!According to Naija247news, the restitution process was announced in a statement posted on the EFCC’s official X account. The anti-graft agency described the move as a demonstration of its dedication to tackling economic and financial crimes while ensuring victims receive justice. “This gesture underscores our resolve to combat fraud and support those affected by these criminal activities,” the statement read.
Naija247news gathered that the funds were recovered through rigorous investigations and prosecutions of Nigerian fraudsters involved in schemes such as business email compromise (BEC) and romance scams. The EFCC’s Chairman, Ola Olukoyede, emphasized that the handover aligns with the Federal Government’s commitment to international collaboration in fighting financial crimes.
“We are doing this to demonstrate to the countries involved that it is within the confines of an international treaty, legal process, and convention,” Olukoyede stated during the handover ceremony in Abuja. He added that the gesture reflects Nigeria’s determination to ensure that financial crimes do not go unpunished.
Naija247news understands that the restitution process has been hailed as a significant step in rebuilding Nigeria’s international reputation, which has been tarnished by the activities of fraudsters. A representative of the American victims, who spoke to Naija247news, expressed gratitude to the EFCC for its efforts. “We never thought we would recover this money. Thank you for giving us hope,” the representative said.
According to Naija247news, the EFCC’s efforts are part of a broader strategy to combat cybercrime and financial fraud, which have become major challenges for Nigeria. The agency has intensified its collaboration with international law enforcement agencies, including the FBI and Interpol, to track down fraudsters and recover stolen funds.
Naija247news reports that the restitution process has also highlighted the need for greater public awareness about the dangers of cybercrime. Olukoyede urged Nigerians to shun fraudulent activities, warning that the long arm of the law will catch up with perpetrators.
As the EFCC continues its crackdown on financial crimes, Naija247news gathered that the agency is working on additional measures to strengthen its operations, including the deployment of advanced technology and capacity-building for its personnel.
The return of $120,548 and N70.6 million to foreign victims serves as a beacon of hope and a reminder that justice can prevail.
