The Economic and Financial Crimes Commission (EFCC) has returned N108 million (about $70,000) to Karren Walters Attorneys in Lagos after recovering part of the funds allegedly diverted by two former employees in a major fraud investigation. The handover took place on Wednesday, July 22, 2026, underscoring Nigeria’s efforts to recover proceeds of financial crime and compensate victims.
The recovered funds, presented as bank drafts by the EFCC’s Lagos Zonal Directorate 2, formed part of the money traced during an investigation into allegations of abuse of office, forgery, stealing and diversion of company funds.
According to the anti-graft agency, investigations found that Nkechi Gladys Megai, who is alleged to have fled to the United Kingdom and remains at large, and former Chief Financial Officer Godson Eze exploited their positions within the company. Investigators alleged that they forged documents, created fake invoices using the names of legitimate vendors and diverted company funds through fraudulent transactions over an extended period.
The EFCC said the suspected fraudulent payments amounted to several hundreds of millions of naira, with investigations and recovery efforts continuing.
Speaking during the handover ceremony, the Acting Zonal Director of the EFCC’s Lagos Zonal Directorate 2, Assistant Commander of the EFCC (ACE I) Bawa Usman Kaltungo, reaffirmed the Commission’s commitment to ensuring that victims of economic and financial crimes receive justice through the recovery of stolen assets wherever possible.
Kaltungo added that “efforts are ongoing to ensure that all persons connected with the fraud, including those who have fled the country, are brought to justice in accordance with the law.”
The company’s legal representatives welcomed the recovery, thanking the EFCC for what they described as its thorough investigation, professionalism and commitment to tracing and recovering the stolen funds.
They said the recovered money would help reduce the financial losses suffered by the company.
