EFCC Returns Over $127,000 and ₦70 Million to Fraud Victims in U.S., Spain, and Switzerland

In a significant move to uphold justice and combat financial crimes, the Economic and Financial Crimes Commission (EFCC) has returned $127,892.43 and ₦70,602,841.46 to victims of fraud in the United States, Spain, and Switzerland.

At a formal handover ceremony held at the EFCC headquarters on Friday, representatives from the affected countries received the recovered funds, marking another milestone in Nigeria’s fight against financial crime.

Charles Smith, legal attaché of the Federal Bureau of Investigation (FBI), accepted $26,581 and ₦40,602,841.46 on behalf of American victims. In addition to the funds, two luxury vehicles—a Mercedes Benz E550 4Matic and a Mercedes Benz C450 AMG—along with a residential property in Kaduna state, were also handed over for restitution.

Switzerland’s ambassador to Nigeria, Andreas Baum, received $100,011.43 on behalf of a Swiss national defrauded in Nigeria, while Spain’s acting ambassador, Maria Velasco, accepted $1,300 and ₦30,000,000 designated for a Spanish victim.

Speaking at the event, EFCC Chairman Ola Olukoyede reiterated Nigeria’s dedication to fighting corruption and ensuring that victims of financial crimes receive restitution.

“Our presence here demonstrates the unwavering commitment of the Nigerian government, under President Bola Ahmed Tinubu, to combat corruption and financial crimes,” Olukoyede stated. “Recovering stolen assets and returning them to victims is a key aspect of our mandate.”

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He also issued a stern warning, emphasizing that individuals who knowingly hold onto illicit funds are considered accomplices. “Under our laws, if you receive proceeds of crime and refuse to return them, you are an accessory to the crime,” he cautioned.

The EFCC’s latest asset repatriation highlights Nigeria’s increasing cooperation with international law enforcement agencies to curb financial fraud. This action sends a clear message to fraudsters that illicit gains will not go unpunished and that victims, no matter where they are, will receive justice.