Recovered assets looted as scandals rock EFCC

Recovered assets looted as scandals rock EFCC

PUNCH

The Economic and Financial Crimes Commission has come under heavy scrutiny following theft of exhibits by some of its operatives.

Saturday PUNCH gathered that some officials of the agency had been dismissed, while others were being investigated for fraud and theft of recovered assets, including cash and gold bars.

No fewer than 27 officers of the commission were reportedly dismissed for misconduct and fraudulent activities in 2024.

The agency spokesman, Dele Oyewale, in a statement on January 6, 2025, also indicated that the EFCC was investigating “a trending $400,000 claim of a yet-to-be-identified supposed staff of the EFCC against a sectional head.”

Two days later, 10 officers from the Lagos zonal command were detained over theft of operational items.

The detained officers are said to be answering questions regarding their inability to account for certain operational items that went missing under their watch.

A security source disclosed that the missing items included gold bars valued at over N1bn and jewellery, while between $350,000 and $400,000 had also gone missing.

While the news of the corrupt officers had yet to fade, another scandal was uncovered at the Kaduna Zonal Office of the commission on Wednesday.

An officer from the zone, identified as Polycarp, allegedly stole over $30,000 and other valuable exhibits.

The EFCC has remained silent on the Kaduna incident, which has added to the array of corrupt practices among the commission’s staff members.

Why operatives are stealing exhibits

A highly credible security source, who spoke to Saturday PUNCH on condition of anonymity, described the theft of exhibits as “highly disappointing.”

The source blamed the trend on prevailing poverty and skyrocketing cost of living, adding that easy access to the exhibits made the theft inevitable.

He noted that mechanisms should have been instituted to prevent such incidents.

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Recovered assets looted as scandals rock EFCC

 

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