The federal government said Thursday that the amount of money looted from government treasury through corrupt practices stood at $400 billion.
The Minister of State for Niger Delta Affairs, Mr. Festus Keyamo, who made the declaration in Abuja, said government arrived at the amount through a research conducted recently.
Keyamo, who spoke while addressing 164 officers of the EFCC Cadet Course 8 currently undergoing orientation and induction at the EFCC Academy, said corruption was the bane of the country.
“If we don’t kill corruption, corruption will kill Nigeria. Anybody who said corruption is not the bane of Nigeria today is not honest.
“A research conducted sometimes ago revealed that the amount of money looted as a result of corruption in Nigeria stands at $400 billion,” he said.
Keyamo charged the cadets to take the fight against corruption seriously, bearing in mind the admonition of President Muhammadu Buhari that, “if we don’t kill corruption, corruption will kill Nigeria”.
Keyamo enjoined the cadets to celebrate their recruitment into the commission at a time when the EFCC truly enjoyed complete independence to execute its mandate.
He blamed interference by previous governments for the slow pace of the fight against corruption in the past as several investigations and prosecution of offenders were frustrated.