ABUJA – The Economic and Financial Crimes Commission (EFCC) has secured 10,872 convictions and recovered more than N1.23 trillion in cash and assets between October 2023 and July 2026.
EFCC Chairman, Mr Ola Olukoyede, disclosed this yesterday in Abuja at a media interactive session marking his three-year stewardship of the commission.
Olukoyede described the period under review as one of “sustained enforcement, institutional reform, prosecution, asset recovery, restitution and stronger collaboration at home and abroad.”
He said the achievements reflected the commission’s renewed focus on its statutory mandate, adding that the anti-corruption campaign was also being deployed as a tool for stimulating economic growth and strengthening adherence to the rule of law.
According to him, the commission recovered N1,233,612,040,411.11, $684,478,457.32, £373,905.78 and €9,343,803.66, alongside recoveries in other currencies, between October 1, 2023 and June 30, 2026.
He explained that about N397.26 billion, representing 33 per cent of the naira recoveries, constituted direct recoveries for the Federal Government, while N836.34 billion, or 67 per cent, represented indirect recoveries made on behalf of Ministries, Departments and Agencies, state revenue services, companies, individuals and foreign victims.
“Two out of every three naira recovered were on behalf of beneficiaries other than the Federal Government,” he said.
Olukoyede stressed that asset recovery would only be meaningful when recovered value was returned to the public interest and rightful beneficiaries.
He disclosed that N661.32 billion and $492.37 million had been released to beneficiaries during the period.
Of the naira releases, he said about N325.35 billion was paid directly to individuals and corporate organisations, while N335.97 billion was released to MDAs, the Nigerian Revenue Service, state internal revenue services and other public institutions, companies and individuals.
“Our continuing priority is to make restitution faster, more transparent and more efficient,” he said.
The EFCC chairman further disclosed that federal and state tax recoveries stood at approximately N288.1 billion, comprising N173.2 billion for the Federal Government and N114.9 billion for state Internal Revenue Services.
He said proceeds from recovered assets were also being channelled into social investment programmes, citing the allocation of N50 billion each to the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation from EFCC recoveries in 2024 and again in 2026.
Olukoyede also cited the conversion of the recovered NOK University into the Federal University of Applied Sciences, Kachia, Kaduna State, noting that 1,909 students matriculated at the institution in December 2025.
Beyond monetary recoveries, the EFCC boss said the commission secured the forfeiture of 10,053 tangible assets, comprising 8,198 electronic devices, 1,177 real estate assets, 370 automobiles and 102 tonnes of solid minerals.
He said proceeds from the disposal of some of the forfeited assets amounted to approximately N12.07 billion.
On enforcement and prosecution, Olukoyede said the commission received 49,673 petitions, investigated 39,615 cases, filed 14,476 cases in court and secured 10,872 convictions between October 2023 and July 2026.
He said the figures represented a 75.1 per cent conviction-to-filing ratio, adding that the commission recorded 1,370 convictions from 1,889 filings in the first half of 2026 alone.
“These results reflect diligence, resilience and a prosecutorial approach anchored on evidence and courtroom outcomes,” he said.
On the changing nature of financial crimes, Olukoyede said EFCC data between 2024 and 2026 recorded 46,288 offences across nine major crime typologies, with advance fee fraud and cybercrime accounting for almost two-thirds of the cases.
He said recorded offences increased by 24.1 per cent between 2024 and 2025, with significant increases in procurement fraud, bank fraud, cybercrime and economic-governance offences.
The EFCC chairman said the commission’s mandate extended beyond high-level corruption, stressing that its activities were also aimed at protecting ordinary Nigerians, businesses and institutions from fraud, cyber-enabled crimes and other forms of economic exploitation.
He said the commission had prosecuted high-profile cases involving former governors, ministers, heads of government agencies and financial-sector operators, insisting that no individual was above the law.
Among the recent convictions he cited were those of former Minister of Power, Saleh Mamman; former Managing Director of Nexim Bank, Robert Orya; and former Accountant-General of the Federation, Chukwunyere Nwabuoku.
“No office or title places anyone beyond the reach of the law,” he said.
Olukoyede disclosed that the EFCC handled 920 specialised cases involving money laundering, unlicensed Bureau de Change operations, illegal mining, virtual assets and terrorist financing, securing 212 convictions.
He said money laundering and unlicensed BDC cases accounted for the largest proportion of the specialised cases, while the commission was also strengthening its response to emerging threats associated with virtual assets and illicit financial flows from the extractive sector.
According to him, the commission’s enforcement activities contributed to Nigeria’s removal from the Financial Action Task Force (FATF) Grey List in October 2025.
He added that 234 BDC cases, resulting in 73 convictions, also contributed to supporting the Central Bank of Nigeria’s foreign exchange reforms.
On institutional reforms, Olukoyede listed the introduction of new guidelines on arrest and bail, establishment of the Department of Fraud Risk Assessment and Control and the Cybercrime Rapid Response Centre.
He said new directorates had also been created in Ekiti, Anambra and Katsina states as part of efforts to strengthen the commission’s reach and operational capacity.
The EFCC chairman disclosed that about 60 per cent of the commission’s processes had been digitalised, while work was ongoing on the new EFCC Academy and EFCC Radio.
He thanked President Bola Tinubu, the National Assembly, judiciary, civil society organisations, the media and Nigerians for their support of the commission’s anti-corruption efforts.
Olukoyede pledged that the EFCC would deepen preventive measures, accelerate restitution and intensify its fight against corruption while ensuring strict adherence to due process and the rule of law.
