EFCC Recovers ₦566bn, Bolsters Tinubu’s Economic Reforms — Olukoyede
ABUJA — The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has disclosed that the Commission has recovered over ₦566 billion in two years, playing a pivotal role in advancing President Bola Tinubu’s economic reforms through enforcement, asset recovery, and institutional renewal.
According to the EFCC’s mid-term performance report released in Abuja on Thursday, part of the recovered funds — approximately ₦100 billion — has been channelled into the Students’ Loan Scheme and the Consumer Credit Scheme, key initiatives under the current administration’s economic empowerment agenda.
Olukoyede, who assumed office in October 2023, revealed that within the period under review, the Commission received more than 19,000 petitions, investigated 29,000 cases, filed 10,525 cases in court, and secured 7,503 convictions. He added that the EFCC recovered ₦566.3 billion, $411.5 million, and seized over 1,500 real estate assets.
The EFCC boss noted that several high-profile cases involving former governors, ministers, and public officials — including ex-Central Bank Governor Godwin Emefiele — were revived and prosecuted, signalling the Commission’s renewed commitment to accountability at all levels.
Olukoyede further stated that the EFCC’s crackdown on currency racketeering and cryptocurrency-related fraud contributed to the stabilisation of the naira, while a major 2024 sting operation led to the arrest of 792 suspects, among them 192 foreigners.
He highlighted ongoing institutional reforms, including the creation of new directorates for risk assessment, innovation, and asset recovery, as well as the dismissal of 55 staff members for misconduct, in line with the agency’s internal accountability framework.
On international collaboration, Olukoyede said the EFCC has strengthened partnerships with the FBI, UK’s National Crime Agency (NCA), and INTERPOL, leading to the recovery of several assets abroad.
He also announced the launch of EFCC Radio 97.3 FM, a public enlightenment platform designed to promote transparency and foster a culture of integrity, adding that the agency’s ongoing rebranding drive aims to rebuild public confidence.
Reaffirming the Commission’s commitment to President Tinubu’s Renewed Hope Agenda, Olukoyede pledged that the EFCC would continue to uphold transparency, strengthen institutions, and ensure that corruption has no safe haven in Nigeria.
