Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu has said that joint operation between his agency and the Federal Bureau of Investigation (FBI) led to the recovery of $314,000 and N373m, respectively
Magu spoke during a media briefing in Lagos on Tuesday. He said the commission has also arrested 28 suspects in the process associated with the American scam.
14 of the suspects have been charged and convicted while nine are still undergoing trial. The other five are still under investigations.
Magu who spoke through Mohammed Rabo, Zonal Head, EFCC, Lagos, said while the sum of $314,000 had been recovered, the sum of N373m had been traced to various commercial banks by operatives attached to the Lagos zonal office of the commission. The monies equal N486m in all.
Recall that the FBI last week released a list of 80 persons most of whom are Nigerians for alleged online fraud.
But Magu on Tuesday said the Lagos zone of the commission had independently launched a sustained operation on perpetrators of various computer-related frauds prior to the collaborative efforts with the FBI.
Over 80 cases are still under investigation from the EFCC-FBI joint operations.
“From 2018 to date, the EFCC had launched a sustained operation on perpetrators of various computer-related frauds, which resulted in over 200 arrests, 130 convictions and recovery of a large number of exotic cars and properties suspected to have been acquired through the proceeds of crime.
We had independently launched intensive investigative actions against the infamous Yahoo Yahoo boys culminating in various strategic raids and onslaught on their hideouts.
“Our efforts in this regard have recorded tremendous successes leading to a number of arrests, prosecutions and convictions,” he said.