Like other major public agencies, the Economic and Financial Crimes Commission (EFCC) has given an interim report of its achievements in the last three and half years under the current administration. While the revelations are of grave national interest because of the overwhelming scale of corruption in the Nigerian public space, they also came as no surprise. Almost on a daily basis, disclosures of cases of corruption seem to compete with rampant insecurity for front page headline prominence. Oftentimes, the sheer volume of resources – cash, real estate, automobiles and precious metals – found with those accused and being investigated is mind boggling. Unfortunately, a good number of these investigations and the attendant court proceedings either run cold or simply lead nowhere.
That perhaps explains why the public perception of the EFCC is that it thrives on either media show conviction of suspects or sheer incompetence disguised in excessive showmanship. But the just released interim report paints a somewhat different picture of the agency. According to the EFCC Chairman, Ola Olukayode, some 10,872 convictions were secured under his stewardship while a whopping N1.233 trillion, $684 million, £373 million and €9.34 were recovered. A total of 1,177 real estate assets and a slew of other tangible assets were also recovered.
