All Recovered looted monies are Domiciled in CBN – EFCC

The information obtained from the commission Facebook page, give account of all the monies recovered so far.

According to information termed “Class in Session 2,” obtained by NaijaBlog, stated that all the Recovered funds are with central bank of Nigeria, CBN.

Often the Public ask where do all the monies recovered go to? The answer is, all cash recoveries granted as final forfeiture to the Federal Government of Nigeria are transferred from the recoveries account to the Consolidated Revenue Fund account of the Federal Government of Nigeria domiciled at the Central Bank of Nigeria, CBN. Also, huge cash seized during Operations are also kept at Central Bank of Nigeria, CBN as Exhibits pending Interim or Final forfeitures.

Cash recoveries made on behalf of Individuals, Corporate bodies, States and Local Governments are returned back to them upon final forfeiture of such Proceeds of Crime by a Federal High Court.

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