Monday, March 21, 2011

EFCC recovers $9bn – Waziri

The Chairman, Economic and Financial Crimes Commission, Mrs. Farida Waziri, has rated her commission high for being able to recover over $9bn in less than three years.

The Head, Media and Publicity of the commission, Mr. Femi Babafemi, said in a statement that the commission’s efforts under Waziri “have led to the recovery of over $9b USD in less than three years; a conviction record of over 150; 1,500 cases charged to court including over 60 high profile ones within the same period.”

The EFCC made this disclosure at a conference against money laundering and economic crime in London, United Kingdom. She called for more global actions against the scourge of money laundering across the world.

Waziri stated that the two-fold approach adopted by EFCC in its fight against the menace of corruption namely, preventive and detective and enforcement strategies had yielded positive results.

She noted that corruption was yet to reduce drastically in Africa due to “ double standard approach of developed nations.”

While urging developed economies to do more in tackling money laundering in their respective nations, she added that the countries (developed nations) had provided safe havens for looted funds from developing countries.


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