17 January 2019

Nigeria: EFCC Begins Assets Recovery in Ghana

The Economic and Financial Crimes Commission (EFCC) has commenced the pursuit of illicit cash flow to neighbouring countries within the Economic Community of West African States (ECOWAS).

Daily Trust gathered yesterday that the acting chairman of the commission, Ibrahim Magu is in Ghana working with their anti-corruption agencies, hunting money laundering activities of Nigerians in the Ghanaian property market.

An EFCC source said the commission has been targeting safe havens all over the world through collaboration with law enforcement agencies in those countries.

It was further gathered Magu is presently in Ghana, leading a team of detectives to identify the property and trace illicit funds owned by some Nigerian elite and fraudsters operating there.

The source said intelligence gathered from Ghana indicated that some politically exposed persons and cybercrime fraudsters working with some Ghanaians and financial institutions buy choice properties running into millions of dollars in protected neighbourhoods in Accra.

It was learned that there are also suspected crude oil thieves who smuggle products from Nigeria, using Ghana as their base and thereafter laundering their proceeds through buying properties or moving the monies to Nigeria.

Magu is said to be working in collaboration with the Economic and Organized Crime Office (EOCO), Ghana Financial Intelligence Centre (FIC) and other relevant law enforcement agencies in Ghana.

The commission is said to be in the process of signing a Memorandum of Understanding with these agencies and the Ghana Police Service to tackle financial crime offenders.

When contacted, the Special Assistant on Media and Publicity to EFCC chairman, Tony Amokeodo, confirmed the development. He, however, declined to give further details.

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