The funds were formally presented during a ceremony on Friday at the EFCC’s Lagos Zonal Directorate 2 office in Ikoyi.
According to the anti-graft agency, the recovery followed a petition filed in 2009 by the then General Manager and Chief Executive Officer of the National Theatre, Kabir Yusuf, alleging contract irregularities involving Prince Benjamin Apugo and others.
Investigations revealed that a contract valued at ₦299,707,828, awarded through the Ministry of Tourism, Culture and National Orientation to Techno Exportstroy Nigeria Limited, was meant for the construction of five gates, sand filling, and reclamation works at the National Theatre complex.
However, EFCC investigators discovered that Yusuf Ahmed Atai approved and released payments totaling ₦334,229,794.24 to the contractor — about ₦34.5 million above the original contract sum.
Further investigations showed that the contractor executed work valued at only ₦55,910,744, leaving a significant portion of the project incomplete. Authorities also established that the excess payment made to the contractor was not refunded.
Following prosecution in court, the EFCC successfully recovered ₦279 million from the defendant on behalf of the complainant.
Speaking at the handover ceremony, EFCC Chairman Ola Olukoyede, represented by the Acting Zonal Director of Lagos Zonal Directorate 2, Bawa Usman Kaltungo, reiterated the commission’s commitment to ensuring that recovered public funds are properly utilised.
He warned that the agency would closely monitor how the funds are spent.
“We cannot suffer to recover this money for you and then have it used for purposes other than what it is meant for. We have asked you to tell us what you intend to do with it, and we will keep an eye on how it is utilised,” he said.
Olukoyede added that the commission would periodically inspect projects funded with the recovered money to ensure accountability.
“We will be visiting from time to time to monitor the progress of work. Our eagle eyes will be watching the pace of work. Do not tamper with the recovered funds. Use them for the benefit of Nigeria,” he said.
Receiving the bank drafts on behalf of the culture centre, the Head of Finance and Accounts, Jatto Kabiru, commended the EFCC for the recovery.
He assured the commission that the funds would be used responsibly.
“We are most grateful for this remarkable feat of recovering this amount of money for us. The EFCC is one of Nigeria’s most effective and reliable law enforcement agencies. I assure you that the money will be used judiciously,” he said.