EFCC Big Scorecard: Commission Secured 10,872 Convictions, Recovered Over ₦1.2trn In 3 years

MICHAEL AKINOLA

The Executive Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede has said the Commission secured 10,872 convictions and recovered ₦1.23 trillion between October 2023 and June 2026.

Olukoyede disclosed this on Sunday during a media briefing at EFCC Headquarters in Abuja to mark three years of his stewardship.

The EFCC boss said the Commission received 49,673 petitions and investigated 39,615 cases within the period. A total of 14,476 cases were filed in court, giving a conviction-to-filing ratio of 75.1%.

“In the first half of 2026 alone, we recorded 1,370 convictions from 1,889 filings,” he stated.

Olukoyede noted that data from 2024 to 2026 showed 46,288 offences across nine major typologies, with advance fee fraud and cybercrime accounting for nearly two-thirds.

He added that total recorded offences rose by 24.1% between 2024 and 2025, with increases in procurement fraud, bank fraud, cybercrime and economic-governance offences.

He stressed that the Commission has pursued high-profile cases “without regard to status,” including former governors, ministers, heads of agencies and financial-sector operators. Recent convictions include Saleh Mamman, Robert Orya, and Chukwunyere Nwabuoku.

“The principle is simple: no office or title places anyone beyond the reach of the law,” he said.

On asset recovery, Olukoyede said the Commission recovered ₦1,233,612,040,411.11, $684,478,457.32, £373,905.78, and €9,343,803.66 between October 2023 and June 2026, plus recoveries in other currencies.

Of the naira amount, ₦397.26 billion (33%) were direct recoveries for the Federal Government, while ₦836.34 billion (67%) were indirect recoveries for MDAs, states, companies, individuals and foreign victims.

He added that ₦661.32 billion and $492.37 million were released to beneficiaries during the period. This included ₦325.35 billion paid directly to individuals and corporate bodies, and ₦335.97 billion to MDAs and state revenue services.

Federal and state tax recoveries amounted to about ₦288.1 billion, while about ₦257.2 billion in naira recoveries were recorded for federal MDAs.

Olukoyede said proceeds of crime have been converted to public use. In August 2024, the Federal Government allocated ₦50 billion each to the Nigerian Education Loan Fund, NELFUND, and the Nigerian Consumer Credit Corporation from EFCC recoveries.

A further ₦50 billion each was approved in 2026.

He also cited the conversion of a recovered property, NOK University, to the Federal University of Applied Sciences, Kachia, Kaduna State, where 1,909 students matriculated in December 2025.

Between October 2023 and July 2026, the Commission also secured forfeiture of 10,053 tangible assets including 8,198 electronic items, 1,177 real estate assets, 370 automobiles, and 102 tonnes of solid minerals. Proceeds from disposal under final forfeiture orders amounted to about ₦12.07 billion.

The EFCC Chairman linked the Commission’s work to Nigeria’s removal from the Financial Action Task Force Grey List in October 2025. He said sustained enforcement in money laundering, terrorist financing, asset freezing and virtual assets contributed to the national effort.

On the foreign exchange market, the Commission recorded 234 BDC cases and 73 convictions in the last three years as part of efforts to support a more formal and compliant retail FX market.

Olukoyede said institutional reforms included new guidelines on arrest and bail, the creation of the Department of Fraud Risk Assessment and Control, Security Department, Immigration and Visa Section, and the Cybercrime Rapid Response Centre.

New EFCC Directorates were also established in Ekiti, Anambra and Katsina States, while the Enugu and Ilorin offices were commissioned.

He added that about 60% of EFCC processes have been digitalized and that the Commission is investing in the new EFCC Academy and EFCC 24/7 Cybercrime Rapid Response Centre, E-C2R2.

On collaboration, he noted ongoing work with the FBI, UK National Crime Agency, Royal Canadian Mounted Police, INTERPOL and other partners.

He also disclosed his re-election as President of the Network of National Anti-Corruption Institutions in West Africa, NACIWA, for another three-year term.

“As we look ahead, our priorities are clear: deepen prevention, ensure faster restitution, invest in better investigative technology and improved professionalism,” Olukoyede said.

He thanked President Bola Ahmed Tinubu, the National Assembly, the judiciary, civil society, the media and Nigerians for their support.

“We are not merely counting arrests or announcing recoveries. Our responsibility is to convert enforcement into measurable national value,” he concluded.