Nigeria’s Attorney-General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi SAN, says that a combined total of N277 billion, $105 million, and 753 duplexes were recovered in 2024 by key anti-graft agencies in the country as part of ongoing asset recovery efforts.
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Fagbemi made the disclosure on Tuesday while speaking at a high-level Summit on Asset Recovery in Abuja, where he underscored the critical role of asset recovery in tackling corruption, economic crimes, and illicit financial flows.
“Asset recovery remains an indispensable strategy in our broader campaign against corruption and economic sabotage,” Fagbemi said.
According to the AGF, the Economic and Financial Crimes Commission (EFCC) recovered more than N248 billion, $105 million, and 753 duplexes in 2024 alone, marking a significant increase in recovered assets compared to previous years.
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) was also reported to have recovered N29.685 billion and $966,900 in assets during the same period.
In addition, the National Drug Law Enforcement Agency (NDLEA) intensified its crackdown on assets tied to drug-related offences, ensuring that illicit proceeds are prevented from re-entering the criminal economy, the AGF noted.
Highlighting Nigeria’s progress on the global stage, Fagbemi said the Federal Ministry of Justice had, between 2017 and 2025, worked in close collaboration with international partners including the United States, United Kingdom, Switzerland, Ireland, and the Bailiwick of Jersey to recover assets abroad.
“These partnerships have led to the recovery and repatriation of $763.73 million and £6.47 million in assets,” he said.
Out of those sums, a total of $102.88 million and £2.06 million were repatriated in 2024 alone. These included:
- $52.88 million recovered from Galactica assets linked to Diezani Alison-Madueke, a former petroleum minister, and her associates.
- $50 million from a corruption fine imposed on commodity trading giant Glencore.
- £2.06 million linked to the Useni/Miner case.
In January 2025, Nigeria and the United States formalized an asset return agreement on the $52.88 million Galactica assets.
Fagbemi reaffirmed the Federal Government’s commitment to financial transparency and accountability, adding that the administration would continue to pursue both domestic enforcement and international cooperation to recover looted assets.
“The message is clear: stolen wealth has no hiding place — whether within our borders or abroad,” he stated.
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