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From Sola Ojo, Abuja
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, on Thursday announced that the Commission recovered N566.3 billion, $411.6 million, and 1,502 properties between October 2023 and September 2025.
He disclosed this in Abuja during a media briefing to mark his second anniversary in office.
Olukoyede, appointed on Thursday, October 18, 2023, and confirmed by the Senate the following day, said the Commission achieved significant reforms and record-breaking results across all operational areas within the period.
Speaking through the Director of Public Affairs, Commander CE Wilson Uwujaren, Olukoyede revealed that the Commission received over 19,000 petitions, conducted 29,240 investigations, filed 10,525 cases in court, and secured 7,503 convictions.
Among the 1,502 recovered properties are 753 duplexes in Lokogoma, Abuja, and the forfeited Nok University, now the Federal University of Applied Sciences, Kachia, Kaduna State.
Olukoyede described these recoveries as evidence of the Commission’s strengthened resolve to trace, confiscate, and return illicit assets to the Nigerian state and victims of fraud.
High-profile cases prosecuted include those involving former governors Willie Obiano, Abdulfatah Ahmed, Darius Ishaku, Theodore Orji, and Yahaya Bello; as well as former ministers Olu Agunloye, Mamman Saleh, Hadi Sirika, Charles Ugwu, and ex-CBN Governor Godwin Emefiele.
In December 2024, the Commission arrested 792 suspects in Lagos for investment and cryptocurrency fraud, including 192 foreigners who were prosecuted and deported.
Olukoyede added that the EFCC revived several longstanding corruption cases involving Fred Ajudua, former PDP Chairman Haliru Bello Mohammed, former NSA Sambo Dasuki, and ex-NSITF boss Ngozi Olojeme.
Part of the recovered funds, he said, was deployed to national initiatives such as the Students Loan Scheme and Consumer Credit Scheme, with N100 billion invested.
Other agencies including NDDC, AMCON, FIRS, and NHIA also benefited from returned funds, while some recovered properties were allocated to government offices for productive use.
He highlighted the creation of the Task Force on Naira Abuse and Dollarisation of the Economy, which has helped curb currency racketeering and stabilise the naira.
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On cybercrime prevention, he recalled the National Cybercrime Dialogue in January 2024 and the National Cybercrime Summit in October 2024, where the First Lady, Senator Oluremi Tinubu, unveiled the Cybercrime Response Centre.
The EFCC has strengthened collaborations with international law enforcement bodies, including the FBI, UK’s National Crime Agency, INTERPOL, JICA, and police authorities in Korea, Canada, Spain, and Germany.
These partnerships have led to joint investigations and asset repatriations.
Olukoyede also noted his leadership role as President of the Network of National Anti-Corruption Institutions in West Africa (NACIWA), which established a permanent secretariat in Abuja. He was recently re-elected for a second term, the first in the organisation’s history.
According to him, significant internal reforms include the creation of the Directorate of Fraud Risk Assessment and Control (FRAC) for corruption prevention and the renaming of the Department of Internal Affairs to the Department of Ethics and Integrity. New Zonal Directorates were opened in Ekiti, Anambra, and Katsina, bringing the total to 17.
“The new EFCC Academy in Giri is under development, featuring a Cybercrime Research Centre.
“Specialised units have also been established, including the Digital Transformation and Innovation Unit, International Assets Tracing and Recovery Unit, and Visa Fraud Section,” he stressed.
Olukoyede emphasised that integrity and professionalism remain the Commission’s foundation, mandating all staff to declare their assets and sanctioned those found wanting. 55 officers have been dismissed for misconduct, including one facing prosecution for tampering with exhibits.
He stressed that corruption prevention remains central to his administration’s strategy, citing the FRAC Department’s success in monitoring the delivery of over 80 percent of the Presidential CNG Buses.
To enhance public awareness, the EFCC launched EFCC Radio 97.3FM, Nigeria’s first anti-corruption radio station.
Olukoyede concluded that the Commission is undergoing a comprehensive rebranding to realign its core values with its renewed vision of integrity and professionalism.
“We are rebranding the EFCC for greater impact. A new logo and slogan will soon be unveiled to reflect our commitment to effective service delivery,” he stated.
