EFCC: How 58 Ex-Governors Allegedly Looted N2.187trillion
Mary Akanbi
4th May, 2024
According to the Economic and Financial Crimes Commission (EFCC), at least 58 former governors have embezzled, looted, misappropriated, or laundered a total of N2.187 trillion in the 25 years since democracy returned to Nigeria.
If the allegations of the Economic and Financial Crimes Commission, EFCC were anything to go by, no fewer than 58 former governors have looted, embezzled, laundered or misappropriated the sum of N2.187 trillion in 25 years.
This figure excludes seized properties across the globe and others under probe, which run into billions of Naira.
The N2.2 trillion looted is equivalent to the Lagos State 2024 budget of N2.25 trillion and the entire South-East states’ 2024 budget of N2.29 trillion. It is several billion higher than the North-Central states’ 2024 budget of N1.89 trillion, and North-East’s N1.60 trillion.
The 58 former governors the EFCC is probing, probed, investigated and prosecuted are drawn from all parts of the country.
Since the return to civil rule on May 29, 1999, the 36 states of the country have had no fewer than 170 governors.
