The Economic and Financial Crimes Commission says it has recovered $314,000 and N373m about N486m in all from suspects in connection with the Federal Bureau of Investigation probe into the list of nearly 80 Nigerians indicted for fraud.

Acting Chairman of the EFCC, IBRAHIM MAGU, who disclosed this said while the sum of $314,000 had been recovered, the sum of N373m had been traced to various commercial banks by the Lagos zonal office of the commission.

He also disclosed that the recent joint operations coordinated by the commission had yielded 28 arrests, adding that 14 suspects had been charged and convicted.

The EFCC chair further stated that “nine of the suspects are currently undergoing trial, while five are still under investigations.

Executive Chairman, Centre for Anti-corruption and Open Leadership, DEBO ADENIRAN weighs in on the matter.