The Attorney General of the Federation (AGF) and Minister of Justice, Prince Lateef Fagbemi (SAN), has corrected widespread media reports, stating that the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC) recovered $105.9 million—not $967.5 billion—in 2024.

The AGF made the clarification in a personally signed statement released on Friday, May 30, following misinterpretations of his remarks at the Asset Recovery Summit held on May 27, 2025, in Abuja.

What the AGF Actually Said

According to Fagbemi, the correct figures reported during the summit are:

EFCC recovered:

• ₦248 billion
• $105 million
• 753 duplexes
• ICPC recovered:
• ₦29.685 billion
• $966,900
• NDLEA intensified its asset seizures linked to drug-related crimes.

International Recoveries

Between 2017 and 2024, the Federal Ministry of Justice, in collaboration with international partners such as the US, UK, Jersey, Ireland, and Switzerland, recovered:

• $763.7 million
• £6.47 million

Of these totals, the recoveries made from 2024 to date include:

• $102.88 million
• £2.06 million

Strategic Use of Recovered Assets

The AGF revealed that the funds were channeled into national development projects, including:

• Conditional Cash Transfer schemes
• Presidential Infrastructure Development Fund (PIDF):
• Lagos-Ibadan Expressway
• 2nd Niger Bridge
• Abuja-Kano Road
• Healthcare projects in Bayelsa State
• Rural Electrification Project
• Rule of Law and Counter-Terrorism Initiatives
• Media Urged to Correct Mistakes

Fagbemi appealed to media houses that misreported the figures to issue corrections, emphasizing the importance of accurate reporting in the fight against corruption.

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“President Bola Ahmed Tinubu’s administration remains committed to transparency, accountability, and the rule of law,” Fagbemi stated.

“Asset recovery serves as both a deterrent to corruption and a source of funding for vital national projects.”

He also noted that Nigeria has gained global recognition for its efforts in asset recovery, operating under frameworks such as the United Nations Convention Against Corruption (UNCAC) and the Global Forum on Asset Recovery (GFAR) principles.

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