The Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, has corrected misinformation circulating about Nigeria’s recovered stolen funds, stressing that the actual figure is far less than reported by some media outlets.
At the Asset Recovery Summit held in Abuja on Tuesday, Fagbemi clarified that Nigeria recovered a total of \$105.9 million, not the exaggerated \$967.5 billion figure making rounds on social media and some news platforms.
The Minister’s statement, signed and released on Friday, outlined the true numbers and highlighted the significant progress made by the government in reclaiming stolen assets.
“In 2024 alone, the Economic and Financial Crimes Commission (EFCC) reclaimed over N248 billion, \$105 million, and 753 duplexes,” Fagbemi said. “The Independent Corrupt Practices Commission (ICPC) also recovered N29.685 billion in cash and \$966,900 in other assets.”
He further revealed that from 2017 till date, Nigeria, working closely with international partners, has recovered about \$763.7 million and £6.47 million. Of this, about \$102.88 million and £2.06 million were recovered in 2024.
The Attorney General urged media houses to correct the false \$967.5 billion figure, calling it “completely at variance” with his remarks.
Fagbemi praised the government’s transparency and emphasised that the recovered funds have been strategically invested in critical national projects. “From 2017 to 2024, recovered funds helped finance important infrastructure projects such as the Lagos-Ibadan Expressway, the Second Niger Bridge, and the Abuja-Kano Road,” he said.
Beyond infrastructure, the funds are supporting healthcare initiatives, renewable energy projects, and efforts to strengthen the rule of law in Nigeria.
The AGF concluded his statement by underscoring the importance of asset recovery in the country’s fight against corruption. “Asset recovery is key to fighting corruption and building trust in government. Nigeria has earned global recognition for its efforts, and we will continue to pursue transparency and justice,” Fagbemi added.
Nigeria has faced persistent challenges with corruption and the illicit movement of public funds overseas. Recovering these stolen assets remains a top priority for the government, aiming to restore public confidence and provide funding for national development.
While the \$105.9 million recovered may seem modest compared to earlier exaggerated claims, it represents a significant achievement in a country where billions have been siphoned off by corrupt officials over the years.
The Economic and Financial Crimes Commission and the Independent Corrupt Practices Commission continue to lead efforts domestically and abroad to track down and repatriate stolen assets, working with countries worldwide to ensure justice and accountability.
Fagbemi’s statement marks a firm stance on accuracy in reporting and a clear message that Nigeria is making steady progress in reclaiming public funds for the benefit of all Nigerians.
