Attorney-General of the Federation, AGF, and Minister of Justice, Lateef Fagbemi, has refuted claims that the federal government recovered $967.5 billion in stolen funds.
Fagbemi, who spoke at the Asset Recovery Summit in Abuja on Tuesday, stated this in a statement released yesterday.
He said the true figures are much lower, but still significant.
He said contrary to the claims, $105.9 million was recovered, not $967.5 billion.
“In 2024 alone, the Economic and Financial Crimes Commission, EFCC, reclaimed over N248 billion, $105 million, and 753 duplexes. The Independent Corrupt Practices Commission also recovered N29.685 billion in cash and $966,900 in assets,” he stated.
He added that from 2017 till date, Nigeria has worked with international partners to recover about $763.7 million and £6.47 million.
Of this, he noted that around $102.88 million and £2.06 million were recovered in 2024.
The AGF called on media houses that published the wrong $967.5 billion figure to correct their reports.
“The figure quoted by the writers is false and completely at variance from my remarks,” he stated.
He praised the government’s transparency and stressed that recovered funds are used for important projects.
“From 2017 to 2024, recovered funds helped fund critical infrastructure like the Lagos-Ibadan Expressway, the Second Niger Bridge, and the Abuja-Kano Road,” he said.
The funds are also supporting healthcare, renewable energy projects, and rule of law initiatives in Nigeria.
“Asset recovery is key to fighting corruption and building trust in government. Nigeria has earned global recognition for its efforts, and we will continue to pursue transparency and justice,” Fagbemi concluded.
