Demonstrating its unwavering commitment to combating economic and financial crimes while ensuring restitution for victims of fraudulent activities, the Economic and Financial Crimes Commission (EFCC) has officially handed over a total sum of $132,362.43 and N78,566,324.81 to victims from the United States, Spain, and Switzerland who fell prey to fraudulent schemes originating in Nigeria.
The restitution ceremony, presided over by the EFCC’s Executive Chairman, Mr. Ola Olukoyede, took place on Friday, February 21, 2025, at the EFCC’s corporate headquarters in Jabi, Abuja. In his address, Mr. Olukoyede emphasized that the event underscores the commitment of the Federal Government of Nigeria, under the leadership of President Bola Ahmed Tinubu, to fighting corruption and financial crimes, upholding good governance, stimulating economic growth, and reinforcing international cooperation in the global fight against financial crimes.
Speaking further, Mr. Olukoyede stated: “We are here to demonstrate that the Federal Government of Nigeria, through the EFCC, is resolute in its efforts to prevent financial crimes. When such crimes occur, we are committed to investigating, tracing assets, recovering them, and where necessary, prosecuting offenders. Beyond recovery, our responsibility extends to ensuring that victims receive restitution. Once proceeds of crime are recovered, the most ethical and responsible course of action is to return them to those affected.”
In addition to the financial restitutions, various assets, including vehicles and real estate, were returned to victims. Among the key restitutions:
- The Acting Ambassador of Spain to Nigeria, Maria Higon Velasco, received $1,300 and evidence of N30 million already transferred to the Embassy of Spain for onward transmission to a victim, Maria Del Rosario San Jose.
- Florent Geel, Senior Political Officer and First Secretary at the Embassy of Switzerland, received $100,011.43 on behalf of victim Chantai Helene Lavancy (formerly known as Chantai Helene Maeder).
- Charles Smith, Legal Attaché at the Federal Bureau of Investigation (FBI), Embassy of the United States, received:
- $7,344, N7,963,483.35, and Bitcoin valued at $4,470 on behalf of victim Maria Jesus Brockell.
- Two Mercedes Benz vehicles—an E550 4Matic (Chassis No: WDDHF9AB6AA111112) and a C450 AMG (Chassis No: WDD20J0641F282467)—as well as a residential bungalow located at 17/19 Seaman Street, Unguwar Maigero, Kaduna, Kaduna State, for onward transmission to a U.S. victim.
- $7,527 for victim Michael Smith.
- $11,710 for victim Cheryle Williams.
- N32,639,358.11 for victim Marva Marrow.
In her remarks, Ambassador Velasco expressed her gratitude, describing the restitution as a significant demonstration of collaboration between Nigeria and Spain. She stated, “This restitution highlights the strong partnership between our nations, and we deeply appreciate this effort.”
Smith, representing the U.S. government, commended the EFCC, emphasizing that “this process provides closure and justice for the victims, restoring their confidence and reinforcing the EFCC’s reputation as a major player in the global fight against financial crimes.”
Similarly, Geel, speaking on behalf of the Swiss government, lauded the EFCC’s professionalism, integrity, and courage, stating, “The restitution of these funds exemplifies the efficiency of our collaboration. Switzerland remains committed to working alongside Nigeria to ensure a safer digital and financial environment.”
Impact on Nigeria’s International Standing
Umar Ahmed, Permanent Secretary of the Ministry of Foreign Affairs, conveyed the appreciation of the Honorable Minister of Foreign Affairs, Yusuf Tuggar, and the ministry at large. He highlighted that “this unprecedented restitution will significantly enhance Nigeria’s credibility on the global stage and strengthen investor confidence. The ministry stands firmly in support of the EFCC’s anti-corruption mandate and will continue collaborating to uphold Nigeria’s reputation internationally.”
This restitution reinforces Nigeria’s commitment to justice, international cooperation, and the rule of law, setting a strong precedent for combating financial crimes and ensuring that fraud victims receive their rightful restitution.
