The acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has said 60 percent of looted funds is still hidden in Nigeria.
He made this known on Wednesday in Abuja during an interactive session with journalists at the EFCC head office
He noted that 60 percent of looted state funds are still being kept in both foreign and local currencies such as the Ikoyi Gate loot.
He lamented that such funds are being kept in different kinds of unorthodox storage facilities.
He said all law enforcement agencies must collaborate on the fight against corruption and double efforts to recover such hidden funds.
He said the EFCC is working to secure the extradition of a former minister of petroleum, Diezani Madueke, even as the commission has been given 72 hours to produce her by a High Court in Abuja.
He said the challenge is that she is being investigated by the United Kingdom law enforcement agencies.
He noted that the difficulty in prosecuting Madueke in the UK is strange because her money laundering activities is known to several law enforcement agencies in different jurisdictions across the world.
Magu also noted that over $300million (dollars) looted from Nigeria is hanging in Jersey Island, in the United Kingdom.