The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has stated that the agency has forfeited cash and assets worth over $500 million to the Federal Government in the past three years. He made this disclosure while delivering a lecture at the Cambridge International Symposium on Economic Crime in the UK. Olukoyede explained that Nigeria's legal framework allows the EFCC to seek forfeiture of assets suspected to be proceeds of crime without waiting for a criminal conviction, similar to provisions in Australia and Canada.
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