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EFCC Confiscates Property Worth $700m Million

Posted by The Punch on 2005/04/13 | Views: 588 |

EFCC Confiscates Property Worth $700m Million


About $700 million worth of property have been confiscated by Economic and Financial Crime Commi-ssion (EFCC), its Secretary, Mr Emmanuel Akomoje, has said.

About $700 million worth of property have been confiscated by Economic and Financial Crime Commi-ssion (EFCC), its Secretary, Mr Emmanuel Akomoje, has said.

Akomoje told newsmen in Lagos yesterday that the commission was now more proactive in dealing with issues bordering on economic and financial crimes in the country.

He, however, regretted that economic and financial crimes have been on the increase in the country in spite of the efforts of the commission. He added that more than 80 per cent of the scam mails entering the United States originated fron Nigeria.

EFCC secretary said many Americans have been defrauded by Nigerian and that there was a new act in the US on advance fee fraud that was targetted mainly at Nigerian fraudsters.

He said the commission was making frantic efforts to see that the Financial Action Task Force (FATF) delisted Nigeria from its list of non-cooperative countries.

Akomoje said Nigeria had made steady progress in the review of its laws on economic and financial crimes and that Nigeria had forwarded a progress reports to FATF to ensure that it was delisted.

He said under the new EFCC regime, all kinds of financial and economic crimes have now been brought under its purview.

EFCC secretary said the country was getting tremendous support from law enforcement agencies worldwide and that the support was responsible for the steady progress being recorded by the commission.

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