EFCC recovers N21.6bn from Transcorp

he Economic and Financial Crimes Commission said on Tuesday that it had recovered a total of N135.6bn from debtors of five banks, whose managing directors were sacked by the Central Bank of Nigeria in August.

It also said that it recovered N21.6bn from Transcorp out of about N30bn it owed some banks.

The Head of Media and Publicity, EFCC, Mr. Femi Babafemi, disclosed this to our correspondent on the telephone in Abuja.

Non-performing loans totaling N747bn of five banks had led to the sacking of the chief executive officers of Union Bank, Intercontinental Bank, Oceanic Bank, Finbank and Afribank.


Similarly, a former Chairman of Alliance for Democracy, Ambassador Yusuf Mamman and Mr. Jafaru Sani were detained by the EFCC.

It was gathered that Mamman‘s detention was not unconnected with the mismanagement of N130m belong to Aso Radio.

An EFCC operative said that a dummy account was opened in respect of the N130m.

The source said that the commission had evidence to show that the money was mismanaged, just as he said that Mamaman and Sani would remain in detention as more suspects faced interrogation on Wednesday.