EFCC Hands Over ₦100 Million Recovered Funds to Federal Ministry of Solid Mineral Development in Uyo

EFCC Hands Over ₦100 Million Recovered Funds to Federal Ministry of Solid Mineral Development in Uyo



August 15, 2025

By Aniefiok Udoh

The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has handed over a recovered sum of ₦100 million to the Federal Ministry of Solid Mineral Development in Akwa Ibom State.

The official presentation, which took place on Friday, August 15, 2025, at the EFCC Zonal Office in Uyo, was conducted on behalf of the Chairman by the Zonal Director, Assistant Commander of the EFCC (ACE I) Oshodi Johnson.

According to the Commission, the funds were recovered from defaulting mining companies operating in Akwa Ibom State that had failed to remit statutory royalties due to the Federal Government.

While handing over the bank drafts to the Federal Mines Officer in charge of Akwa Ibom State, Mr. Emmanuel Effiong Bassey, Oshodi reiterated the EFCC’s unwavering commitment to transparency, accountability, and the diligent recovery of public funds.

“The approval to release these drafts came directly from the Executive Chairman, and today we are fulfilling that mandate. The amount recovered is ₦100 million, but this is only a tip of the iceberg. The Commission will continue to recover every government kobo inappropriately withheld. We are still investigating, and bigger recoveries should be expected in this sector and beyond,” Oshodi stated.

He further emphasized the need for stronger synergy between federal ministries and the EFCC, particularly in intelligence sharing, noting that effective collaboration would yield greater results at strategic, operational, and tactical levels.

Receiving the drafts on behalf of the Ministry, Mr. Bassey lauded the EFCC for its swift and diligent response, describing the recovery as a significant boost to accountability in the mineral and mining sector.

“This sector is critical to the nation’s economy. Without it, the country struggles. Strengthening the synergy between the Ministry and the EFCC is vital, and we are hopeful that more recoveries will follow,” Bassey said.

The EFCC Zonal Director also commended the Ministry for providing actionable intelligence that facilitated the recovery, reaffirming the Commission’s readiness to sustain inter-agency collaboration. He stressed that intelligence-led investigations remain central to the EFCC’s strategy in tracking and recovering government funds.

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