Abuja: The Economic and Financial Crimes Commission (EFCC) has recorded 10,872 convictions and recovered over ?1.23 trillion in cash and assets in the last 34 months, its Chairman, Mr. Ola Olukoyede, announced during a media interactive session at the commission’s headquarters in Abuja. The session marked his three-year tenure at the EFCC.
According to News Agency of Nigeria, Olukoyede outlined the achievements of the commission, emphasizing the period between October 2023 and July 2026 as one of sustained enforcement, institutional reform, prosecution, asset recovery, and stronger collaboration both domestically and internationally. He reiterated that his agenda was to focus on the commission’s mandate, stimulate economic growth through the anti-graft war, and adhere to the rule of law.
Olukoyede revealed that the EFCC’s asset recovery efforts had been significant, with over ?1.23 trillion recovered, including $684.48 million, £373,905, and other currencies. Of the naira recoveries, approximately ?397.26 billion were direct recoveries for the Federal Government, while ?836.34 billion represented indirect recoveries for various ministries, departments, agencies, and foreign victims. He stressed that recovery is meaningful only when value is returned to the public interest and rightful beneficiaries.
The EFCC released ?661.32 billion and $492.37 million to beneficiaries, including ?325.35 billion paid directly to individuals and corporate bodies. Federal and state tax recoveries amounted to approximately ?288.1 billion. Proceeds from crime have also been converted to social investment, with allocations to NELFUND and the Nigerian Consumer Credit Corporation.
Olukoyede noted that the commission secured the forfeiture of 10,053 tangible assets, including electronic items, real estate, automobiles, and solid minerals, resulting in proceeds of about ?12.07 billion. He also highlighted the commission’s enforcement achievements, with 49,673 petitions received, 39,615 cases investigated, and 14,476 cases filed in court, securing a conviction-to-filing ratio of 75.1%.
Data from 2024 to 2026 indicated a rise in offences, particularly in advance fee fraud and cybercrime. The EFCC has pursued high-profile cases, including those against former government officials, reiterating that no office or title places anyone beyond the reach of the law. The commission’s efforts contributed to Nigeria’s removal from the Financial Action Task Force Grey List in October 2025.
Institutional reforms have been implemented, with new guidelines on arrest and bail, digitalization of processes, and investment in the EFCC Academy and EFCC Radio. Olukoyede expressed gratitude to President Bola Tinubu, the National Assembly, the judiciary, civil society, the media, and Nigerians for their support, pledging to continue the fight against corruption with due process.