Abuja: The Economic and Financial Crimes Commission (EFCC) has recovered over ?566 billion, $411 million, and 1,502 properties in the last two years under the leadership of its chairman, Ola Olukoyede. The EFCC chief, represented by Wilson Uwujaren, the Director of Public Affairs, made the disclosure in Abuja during a press conference marking his second anniversary in office.
According to News Agency of Nigeria, Olukoyede, who was appointed on October 18, 2023, and confirmed by the Senate the following day, said the commission had made significant progress in its fight against economic and financial crimes across the board. Between October 2023 and September 2025, the commission received over 19,000 petitions, conducted 29,240 investigations, filed 10,525 cases in court, and secured 7,503 convictions.
The EFCC also recovered ?566,319,820,343.40, $411,566,192.32, £71,306.25, and other foreign currencies from proceeds of financial and economic crimes. Additionally, 1,502 non-monetary assets were recovered, including 402 properties in 2023, 975 in 2024, and 125 so far in 2025. Among these assets are two notable landmarks: the final forfeiture of 753 units of duplexes in Lokogoma, Abuja, and the forfeiture of Nok University, now the Federal University of Applied Sciences, Kachia, Kaduna State.
Olukoyede highlighted several major cases prosecuted within the period, involving former governors Willie Obiano, Abdulfatah Ahmed, Darius Ishaku, Theodore Orji, and Yahaya Bello. Other high-profile cases included former ministers Olu Agunloye, Mamman Saleh, Hadi Sirika, and Charles Ugwu, as well as former Central Bank Governor, Godwin Emefiele.
The commission also revived longstanding corruption cases involving prominent figures such as Fred Ajudua, former PDP Chairman Haliru Bello Mohammed, ex-National Security Adviser Sambo Dasuki, and former NSITF boss, Ngozi Olojeme. In December 2024, the EFCC arrested 792 suspects in connection with investment and cryptocurrency fraud in Lagos, including 192 foreign nationals who were later prosecuted and deported.
Olukoyede disclosed that part of the recovered funds had been channeled into key national programmes, including the Students Loan Scheme and Consumer Credit Scheme, with a total of ?100 billion invested. Other agencies such as the Niger Delta Development Commission (NDDC), Asset Management Corporation of Nigeria (AMCON), Federal Inland Revenue Service (FIRS), and National Health Insurance Authority (NHIA) also benefited from returned funds.
According to him, some recovered properties were allocated to government agencies for office use, aligning with the Commission’s policy of ensuring that recovered assets are put to productive use. Olukoyede also highlighted the creation of a Task Force on Naira Abuse and Dollarisation of the Economy, which has helped sanitize currency operations and reduce speculative pressure on the naira.
The EFCC chairman emphasized the Commission’s dual approach to fighting cybercrime through enforcement and prevention, recalling the National Cybercrime Dialogue held in January 2024, and the National Cybercrime Summit in October 2024, where First Lady Sen. Oluremi Tinubu unveiled the Cybercrime Response Centre. The EFCC has strengthened international partnerships with agencies such as the FBI, UK’s National Crime Agency (NCA), INTERPOL, and Japan’s JICA, resulting in joint investigations and repatriation of stolen assets to victims in Spain, Canada, and the United States.
Olukoyede’s leadership as President of the Network of National Anti-Corruption Institutions in West Africa (NACIWA) led to the establishment of a permanent secretariat in Abuja. He also detailed internal reforms, including the creation of the Directorate of Fraud Risk Assessment and Control (FRAC) to enhance corruption prevention.
He reaffirmed his commitment to integrity and professionalism within the Commission, stating that all staff were directed to declare their assets upon his assumption of office. Errant staff have been disciplined, with 55 officers dismissed over misconduct, including one currently facing prosecution for tampering with exhibits. Meanwhile, hardworking officers have been rewarded through promotions, provision of CNG buses, and payment of allowances.
The EFCC Chairman reiterated that corruption prevention remains a cornerstone of his administration, advocating for a more cost-effective approach than enforcement. The establishment of FRAC aims to deploy risk-based strategies in monitoring the budget performance of Ministries, Departments, and Agencies.