Acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has said that the collaboration between the commission and the US Federal Bureau of Investigation (FBI) has led to the recovery of the sums of $314,000 and about N373 million from perpetrators of computer-related fraud known locally as Yahoo Yahoo.
Speaking through Lagos Zonal Head of the EFCC, Mohammed Rabo, at a media briefing in Lagos on Tuesday, Mr Magu said that the commission’s Lagos zone, prior to the collaborative efforts with the FBI, had independently launched a sustained operation on perpetrators of various computer-related frauds.
Magu said while the sum of $314,000 had been recovered, the sum of N373 million had been traced to various commercial banks by the Lagos zonal office of the commission.
He also disclosed that the recent joint operations coordinated by the commission had yielded 28 arrests, adding that 14 suspects had been charged and convicted.
The acting EFCC boss further said: “Nine of the suspects are currently undergoing trial, while five are still under investigations. Over 80 cases are still under investigation from the EFCC-FBI joint operations.”
He added: “From 2018 to date, the EFCC had launched a sustained operation on perpetrators of various computer-related frauds, which resulted in over 200 arrests, 130 convictions and recovery of a large number of exotic cars and properties suspected to have been acquired through the proceeds of crime.
“We had independently launched intensive investigative actions against the infamous Yahoo yahoo boys culminating in various strategic raids and onslaught on their hideouts.
“Our efforts in this regard have recorded tremendous successes leading to a number of arrests, prosecutions and convictions.”
Magu also called on the media to continue to lend its voice to the fight against corruption and economic and financial crimes.
