Acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, has disclosed that the collaboration between the commission and Federal Bureau of Investigations in the United States, has led to the recovery of $314,000 and about N373m from perpetrators of Internet fraud.

Magu said this On Tuesday through the Zonal Head Of the EFCC in Lagos, Mohammed Rabo.

He said the partnership of both agencies have led to the arrest of over 200 people while 130 had been convicted.

He said, “From 2018 to date, the EFCC had launched a sustained operation on perpetrators of various Internet-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.”

The EFCC boss said while the sum of $314,000 had been recovered, N373m had been traced to various commercial banks by the Lagos Zonal office of the commission.

He added, “Over 80 cases are still under investigation from the EFCC-FBI joint operations.”


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