Magu reveals total amount EFCC has recovered through whistle-blowers

The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has disclosed that more than N30 billion looted funds have been recovered since the commencement of the whistle blowing policy.

He stated this yesterday at the launch of the whistle-blower support project tagged ‘Corruption Anonymous’ (CORA).

In a speech at the event, Magu said the EFCC has created an environment for those with information to approach the Commission, confident that the information they give would be put into effective use.

“Since the commencement of the whistle-blower policy, we have received hundreds of actionable tips that led to the following cash recoveries: N527, 643,500; $53,222,747; GBP 21,222,890 and Euro 547,730,” he said.

His speech comes about two months after Magu some of the tip-offs passed to anti-graft detectives by whistle blowers were leading nowhere.

The EFCC boss, however, explained his stance at the event.

He said: “I am glad to report that Nigerians have so far been very responsive. We have always treated every tip referred to us with strict sense of responsibility bearing in mind that such undertaking on the part of the whistle-blower is usually a matter of trust and even risk.

“At the same time, we have been careful not to be used by mischief makers who would want to abuse this process.

“Let me reiterate that just as there is consequence for corruption, there will be consequence for those who want to take advantage of this noble initiative in the fight against corruption to create mischief. We have responded to this possibility by developing a water-tight mechanism of both reporting and cross-checking information.”