KEHINDE AKINTOLA
Whopping sum of N251 billion cash and multi-million dollar worth of jewelries such as gold, trapped taxes have so far been recovered by Economic and Financial Crimes Commission (EFCC) between January 2018 and first quarter of 2019.
Ibrahim Magu, EFCC acting chairman disclosed this during the 2018/2019
budget defence before the House Committee on Financial Crimes, chaired by Kayode Oladele (APC-Ogun).
Breakdown of the recovery shows N11.5 billion final forfeiture (cash and accounts); N133.8 billion Non-forfeiture recoveries; N8.92 billion direct deposits; N38.64 billion tax recoveries; N4.30 billion fuel subsidy recoveries and N42 billion banks (third party).
“These are in addition to recoveries of assets as jewelries (gold), various sums in other currencies and cash for major government agencies including NNPC, FIRS and AMCON.
Other details are in the appendix on recoveries. “In the first quarter 2019 financial year, the Commission made recoveries which included: Cash – N140.7 million; Direct Deposits –
N2.02 billion; Tax recoveries – N7.20 billion; Subsidy recoveries – N3.06 billion and $292 million,” Magu explained.
According to him, the Commission requires total sum of N22.071 billion in 2019 against the sum of N26.396 billion approved in 2018.
He however observed that the capital expenditure of N15.196 billion was reduced to N3.978 billion in the executive summary submitted by the Executive to the Legislature.
“This represents a 74.82 percent reduction from the approved estimate of N10.07 billion in 2018. We again wish to crave the indulgence of this Committee to consider an upward review in the Commission capital expenditure proposal for 2019.
According to him, the sum of N2.02 billion is for payment of outstanding liablities to Julius Berger arising from certificate Nos. 28, 29 and 30; N1.5 billion cost over runs on new head office complex; N.299 billion for liabilities for consultancy (New head office); N.47
billion for purchase of security equipment (ammunitions) and N1.1 billion for furnishing of the new head office, among others.
In the bid to boost the Commission’s workforce, Magu disclosed plans to increase salaries and allowances of 970 additional staff approved for recruitment, who are to be fully enrolled on the personnel cost platform in 2019. This comprises 332 Assistant Detective
Superintendents, 293 Assistant Detective Inspectors currently undergoing training at NDA Kaduna and support staff that recently joined the services of the Commission.
Oladele assured the commission of the Committee’s support for the sustenance of the war against corruption by the Muhammadu Buhari’s administration and transformation of EFCCv into world-class anti-graft institution,y observed that the issue of paucity of funds has become a thing of the past.
“I am proud to say that the 8th National Assembly has done a lot to partner with the Executive in the fight against corruption and our Committee will go down in history as the most effective and most productive House Committee on financial crimes in Nigeria,” Oladele noted.
He also applauded the synergy between the Executive and Legislature towards the completion ofb the 10 storey office building constructed for the commission, which he observed was abandoned by the Goodluck Jonathan administration.
According to him, “The construction of the 10 storey building was approved by the Federal Executive Council (FEC), during the administration of former President Goodluck Jonathan on November 24, 2014, the project was abandoned by the same administration due to its
lackluster political will to foster a robust fight againsty corruption and build capacity for the anti-corruption agemcies.
“However, the completion and relocation of the EFCC to this edifice has enhanced the work of the agency and addressed the major problem of office space and littering of the offices of the agency in private buildings in Abuja.
“We are aware that more still needs to be done, particularly on the deployment of comprehensive IT infrastructure for the building and provision of office equipment,” the Ogun lawmaker affirmed.
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