EFCC Acting Chairman, Ibrahim Magu
The Economic and Financial Crimes Commission (EFCC) has said that monies it recovered from people who looted from Nigeria are paid into the Consolidated Revenue Fund of the Federal Government.
This was revealed via its Twitter handle in response to a question by a Nigerian.
While responding to the question, the EFCC said: “After the law takes its course, recovered monies are paid into the Consolidated Revenue Fund of the Federal Government”.
"Our job is to investigate and prosecute. Recovered monies are paid into the Consolidated Revenue Account of the FG".
It further added: "In the case of the State, the monies are paid into the Consolidated Revenue Fund of the Federation. "Recovered monies are returned to the rightful owners. It could be an individual, organisation or the state."
Consolidated revenue account is government's purse in which all government receipts are paid into and expenditure allocated from this account and is usually estimated in the constitution.