EFCC recovers ₦566 billion, $411 million, and 1,502 assets in two years - Chairman
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Under the direction of its chairman, Ola Olukoyede, the Economic and Financial Crimes Commission, or EFCC, has
retrieved approximately ₦566 billion, 411 million dollars, and 1,502 properties in the past two years. During a press conference commemorating his second anniversary in office, the head of the EFCC, Wilson Uwujaren, the Director of Public Affairs, made the revelation in Abuja on Thursday.Mr. Olukoyede, who was ratified by the Senate the day after his appointment on October 18, 2023, said that the commission had achieved "unprecedented progress" in its battle against financial and economic crimes on all fronts.
He claims that from October 2023 to September 2025, the commission received more than 19,000 petitions, carried out 29,240 investigations, submitted 10,525 court cases, and obtained 7,503 convictions.
During the same time frame, the commission retrieved ₦566,319,820,343.40, $411,566,192.32, £71,306.25, €182,877.10, and additional foreign currency from the profits of economic and financial crimes.
Additionally, 1,502 non-monetary assets were recovered, including 402 properties in 2023, 975 in 2024, and 125 as of this writing in 2025.
"The final forfeiture of 753 duplex units in Lokogoma, Abuja, and the forfeiture of Nok University, now the Federal University of Applied Sciences, Kachia, Kaduna State, are two noteworthy landmarks among these recovered assets," he stated.
During the same time frame, the commission retrieved ₦566,319,820,343.40, $411,566,192.32, £71,306.25, €182,877.10, and additional foreign currency from the profits of economic and financial crimes.
Additionally, 1,502 non-monetary assets were recovered, including 402 properties in 2023, 975 in 2024, and 125 as of this writing in 2025.
"The final forfeiture of 753 duplex units in Lokogoma, Abuja, and the forfeiture of Nok University, now the Federal University of Applied Sciences, Kachia, Kaduna State, are two noteworthy landmarks among these recovered assets," he stated.
Former governors Willie Obiano, Abdulfatah Ahmed, Darius Ishaku, Theodore Orji, and Yahaya Bello were involved in a number of significant cases that were prosecuted during that time, according to Mr. Olukoyede.
He mentioned other well-known cases, such as former Central Bank Governor Godwin Emefiele and former ministers Olu Agunloye, Mamman Saleh, Hadi Sirika, and Charles Ugwu.
Long-standing corruption cases involving well-known individuals like Fred Ajudua, former PDP Chairman Haliru Bello Mohammed, former National Security Advisor Sambo Dasuki, and former NSITF chief Ngozi Olojeme were also brought back to life by the EFCC, he said.
According to Mr. Olukoyede, the commission detained 792 suspects in December 2024 in relation to cryptocurrency and investment fraud in Lagos, including 192 foreign nationals who were subsequently charged with crimes and expelled.
He mentioned other well-known cases, such as former Central Bank Governor Godwin Emefiele and former ministers Olu Agunloye, Mamman Saleh, Hadi Sirika, and Charles Ugwu.
Long-standing corruption cases involving well-known individuals like Fred Ajudua, former PDP Chairman Haliru Bello Mohammed, former National Security Advisor Sambo Dasuki, and former NSITF chief Ngozi Olojeme were also brought back to life by the EFCC, he said.
According to Mr. Olukoyede, the commission detained 792 suspects in December 2024 in relation to cryptocurrency and investment fraud in Lagos, including 192 foreign nationals who were subsequently charged with crimes and expelled.
The statement from Mr. Olukoyede said, "This development sent a strong message that Nigeria will not allow its territory to be turned into a safe haven for cybercriminals."
The chairman of the EFCC revealed that a portion of the money recovered had been spent in important national programs, including as the Consumer Credit Scheme and the Students Loan Scheme, totaling ₦100 billion.
According to him, the returned cash also helped other organizations like the National Health Insurance Authority (NHIA), the Federal Inland Revenue Service (FIRS), the Asset Management Corporation of Nigeria (AMCON), the Niger Delta Development Commission (NDDC), and others.
The chairman of the EFCC revealed that a portion of the money recovered had been spent in important national programs, including as the Consumer Credit Scheme and the Students Loan Scheme, totaling ₦100 billion.
According to him, the returned cash also helped other organizations like the National Health Insurance Authority (NHIA), the Federal Inland Revenue Service (FIRS), the Asset Management Corporation of Nigeria (AMCON), the Niger Delta Development Commission (NDDC), and others.
"In accordance with the Commission's policy of ensuring that recovered assets are put to productive use," he said, some of the recovered properties were given to government agencies to use as offices.
In order to sanitize currency operations and lessen speculative pressure on the naira, Mr. Olukoyede emphasized the establishment of a Task Force on Naira Abuse and Dollarization of the Economy.
Recalling the January 2024 National Cybercrime Dialogue and the October 2024 National Cybercrime Summit, where First Lady Sen. Oluremi Tinubu unveiled the Cybercrime Response Center, he emphasized the Commission's twin strategy of preventing and enforcing laws to combat cybercrime.
In order to sanitize currency operations and lessen speculative pressure on the naira, Mr. Olukoyede emphasized the establishment of a Task Force on Naira Abuse and Dollarization of the Economy.
Recalling the January 2024 National Cybercrime Dialogue and the October 2024 National Cybercrime Summit, where First Lady Sen. Oluremi Tinubu unveiled the Cybercrime Response Center, he emphasized the Commission's twin strategy of preventing and enforcing laws to combat cybercrime.
He claims that the EFCC has strengthened its international collaborations with organizations like the FBI, the National Crime Agency (NCA) of the United Kingdom, INTERPOL, and Japan's JICA, leading to cooperative investigations and the return of stolen property to victims in the US, Canada, and Spain.
"We had the privilege of hosting former FBI Director Christopher Wray and NCA Director General Graeme Biggar in 2024, which is evidence of the respect the EFCC enjoys today on a global scale," he stated.
At the regional level, a permanent secretariat in Abuja was established as a result of Olukoyede's leadership as President of the Network of National Anti-Corruption Institutions in West Africa, or NACIWA.
"We had the privilege of hosting former FBI Director Christopher Wray and NCA Director General Graeme Biggar in 2024, which is evidence of the respect the EFCC enjoys today on a global scale," he stated.
At the regional level, a permanent secretariat in Abuja was established as a result of Olukoyede's leadership as President of the Network of National Anti-Corruption Institutions in West Africa, or NACIWA.
To improve corruption prevention, he described a number of internal measures, such as the establishment of the Directorate of Fraud Risk Assessment and Control, or FRAC.r
"You cannot fight corruption with corruption," Mr. Olukoyede said, reinforcing his dedication to honesty and professionalism within the Commission.
He mentioned that when he took office, all employees were instructed to report their holdings.
"In accordance with due process, those who violated ethical standards were disciplined; 55 officers were fired for misconduct, including one who is currently being prosecuted for tampering with exhibits."
Hardworking officials have been rewarded with regular promotions, CNG bus provision, and stipend payments, he continued, while misbehaving employees have been reprimanded.
"You cannot fight corruption with corruption," Mr. Olukoyede said, reinforcing his dedication to honesty and professionalism within the Commission.
He mentioned that when he took office, all employees were instructed to report their holdings.
"In accordance with due process, those who violated ethical standards were disciplined; 55 officers were fired for misconduct, including one who is currently being prosecuted for tampering with exhibits."
Hardworking officials have been rewarded with regular promotions, CNG bus provision, and stipend payments, he continued, while misbehaving employees have been reprimanded.
The chairman of the EFCC reaffirmed that preventing corruption is still a top priority for his administration.
The cost-effectiveness of prevention is higher than that of enforcement. To monitor the budget performance of Ministries, Departments, and Agencies, we set up FRAC to implement risk-based strategies," he stated.
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The cost-effectiveness of prevention is higher than that of enforcement. To monitor the budget performance of Ministries, Departments, and Agencies, we set up FRAC to implement risk-based strategies," he stated.
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