- EFCC Chairman Ola Olukoyede says whistleblowers may receive rewards for useful information on stolen Nigerian assets abroad.
- The commission is intensifying efforts to trace and recover illicit assets held outside Nigeria.
- EFCC says international cooperation remains important in bringing stolen wealth back to the country.
The Economic and Financial Crimes Commission has announced plans to reward whistleblowers who provide credible information that helps the agency trace and recover stolen Nigerian assets held abroad.
Eko Hot Blog reports that EFCC Chairman, Ola Olukoyede, disclosed the initiative while highlighting the commission’s intensified efforts to recover illicit assets taken out of Nigeria.
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According to reports, the reward for useful information could range between 2.5 per cent and five per cent of the value of assets successfully recovered.
The initiative is aimed at encouraging Nigerians and other individuals with credible information about properties, funds and other assets allegedly acquired through illicit means and moved outside the country to come forward.
Olukoyede has repeatedly identified the recovery of stolen assets located abroad as a major priority for the EFCC. He previously disclosed that the commission had been engaging with foreign jurisdictions to trace assets linked to suspected corruption and financial crimes.
The EFCC Chairman said the commission had expanded its international asset recovery efforts, with investigators visiting several countries in pursuit of assets allegedly acquired through illicit means.
The latest reward proposal is expected to strengthen the commission’s intelligence-gathering efforts by giving individuals with useful information an incentive to assist investigations.
The EFCC is responsible for investigating and prosecuting economic and financial crimes in Nigeria, including corruption, money laundering and related offences. The commission also works with international law enforcement bodies in tracing and recovering proceeds of crime.
In recent years, the agency has secured the recovery and forfeiture of significant sums of money and properties linked to financial crimes. The commission has also continued to hand over recovered assets for public use.
Olukoyede has stressed the importance of preventing corrupt officials and other individuals from concealing illicit wealth in foreign jurisdictions.
The EFCC’s renewed focus on overseas assets comes as the commission seeks to strengthen Nigeria’s fight against illicit financial flows and ensure that proceeds of corruption are returned to the country.
The commission is expected to provide further details on the reward mechanism, including eligibility requirements and procedures for submitting information.
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