The Economic and Financial Crimes Commission (EFCC) says it has recovered over ₦566 billion, $411 million, and more than 1,500 properties within the last two years as part of its renewed efforts to combat financial and economic crimes.
The EFCC Chairman, Ola Olukoyede, disclosed this on Thursday in Abuja during a press briefing to mark his second anniversary in office. He said the achievements reflect the Commission’s determination to strengthen accountability and transparency across the country.
Represented by the Commission’s Director of Public Affairs, Commander Wilson Uwujaren, Olukoyede revealed that between October 2023 and September 2025, the EFCC received over 19,000 petitions, carried out 29,240 investigations, filed 10,525 cases, and secured 7,503 convictions.
He explained that the recoveries included ₦566,319,820,343.40, $411,566,192.32, £71,306.25, and €182,877.10, alongside other foreign currencies. In addition, 1,502 non-monetary assets were seized—402 in 2023, 975 in 2024, and 125 so far in 2025.
Among the recovered assets, Olukoyede cited the forfeiture of 753 duplexes in Lokogoma, Abuja, and the conversion of Nok University in Kaduna State into the Federal University of Applied Sciences, Kachia.
“These recoveries are tangible evidence of our commitment to trace and return stolen assets to the Nigerian state and victims of fraud,” he said.
The EFCC chairman also listed several high-profile prosecutions, including cases involving former governors Willie Obiano, Abdulfatah Ahmed, Darius Ishaku, Theodore Orji, and Yahaya Bello, as well as ex-ministers Olu Agunloye, Mamman Saleh, Hadi Sirika, Charles Ugwu, and former Central Bank governor Godwin Emefiele.
He disclosed that in December 2024, the EFCC arrested 792 suspects in Lagos for investment and cryptocurrency-related fraud, including 192 foreigners who were later prosecuted and deported.
Olukoyede added that the Commission revived several old corruption cases involving figures such as Fred Ajudua, former PDP chairman Haliru Bello Mohammed, ex-NSA Sambo Dasuki, and former NSITF boss Ngozi Olojeme.
According to him, ₦100 billion from recovered funds has been channelled into key national initiatives like the Students Loan Scheme and Consumer Credit Scheme, while other government agencies—including the NDDC, AMCON, FIRS, and NHIA—have benefited from returned assets.
He said some confiscated properties have been allocated to government agencies for official use.
Highlighting other reforms, Olukoyede noted the creation of a Task Force on Naira Abuse and Dollarisation of the Economy, which he said has helped stabilise the naira and curb speculative trading.
The EFCC, he added, has also prioritised cybercrime prevention through the National Cybercrime Dialogue and Summit, the latter of which saw the First Lady, Oluremi Tinubu, unveil the Cybercrime Response Centre.
Olukoyede pointed to strengthened partnerships with international law enforcement bodies such as the FBI, the UK’s National Crime Agency, INTERPOL, and the Korean, Spanish, Canadian, and German police. These collaborations, he said, have led to joint investigations and repatriation of stolen assets.
He also mentioned that the EFCC under his leadership now presides over the Network of National Anti-Corruption Institutions in West Africa (NACIWA), with its permanent secretariat based in Abuja.
Internally, the EFCC has established new directorates and specialised units, including the Directorate of Fraud Risk Assessment and Control, the Digital Transformation and Innovation Unit, and a Cybercrime Research Centre at its new Academy in Giri.
Olukoyede reaffirmed his zero-tolerance stance on corruption within the EFCC, revealing that 55 staff members had been dismissed for misconduct while those who upheld integrity were rewarded with promotions and incentives.
“You cannot fight corruption with corruption,” he said. “Every staff member was mandated to declare their assets, and anyone found breaching ethical standards has been sanctioned accordingly.”
