According to the Economic and Financial Crimes Commission (EFCC) allegation, no less than 58 former governors have embezzled, looted, misappropriated or laundered the total amount of N2.187 trillion in 25 years that democracy has returned to Nigeria.
According to Vanguard, the figure did not include properties seized worldwide and others currently under investigation, which are worth billions of naira.
List of former governors currently under the EFCC probe
Photo Credit: Ayode Fayose, Yahaya Bello, Bello MatawalleSource: Twitter
The looted money is equivalent to the 2024 budget of Lagos state (N2.25 trillion) and the entire budget of the South-East states ( N2.29 trillion). The N2.2 trillion is several billion higher than the N1.89 trillion and N1.60 trillion 2024 budgets of the entire states in the north-central and north-east.
Among the 58 former governors, some are being probed. Some have been probed, investigated, and prosecuted. They are drawn from the six regions of the country.
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