Ibrahim Magu, Acting Chairman of the Economic and Financial Crimes Commission (EFCC) has made shocking revelations…

“We have seen evidence of theft of public resources by some state governors – cashing on the insecurity in their states. Insecurity has also offered the required oxygen for corruption to thrive as evident in the $2.1bn arm procurement scandal involving top military commanders both serving and retired.”

“Corruption can also not be divorced from the festering insurgency in the Northeast. Mass poverty in the region due in part to corruption by the ruling elite, is largely to blame for the ease with which the Islamists are able to recruit fighters to sustain their aggression against the Nigerian state.”

“The militancy in the Niger Delta and insurgency in the Northeast are by-products of corruption. As an investigator, I am shocked by the quantum of resources stolen from the Niger Delta Development Commission (NDDC) by those who run the intervention agency.”

“It is so bad that even a mere personal assistant to a former Managing Director was charged for stealing over N3 billion. Whether we like it or not, corruption and terrorism have become the twin evils, undermining our collective efforts to make Nigeria a truly great country.”

“Nigeria’s failure to take full advantage of its natural resources could also be attributed to corruption as public office holders are in the habit of constantly pillaging public resources.”

The country’s loss to corruption in the last decade runs into trillions of Naira, a review of the recoveries between 2017 and now, shows that in 2017, the EFCC recovered N473.065 billion, $98 million, €7 million and £294,000, while N236.16 billion was recovered in 2018, which give just an insight into what had been stolen so far.”