The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, says the Commission has recovered more than ₦566 billion within two years and continues to play a vital role in supporting President Bola Tinubu’s economic reforms.
Presenting the EFCC’s mid-term performance report in Abuja on Thursday, Olukoyede revealed that part of the recovered funds, about ₦100 billion has been channelled into the federal government’s Students’ Loan Scheme and Consumer Credit Scheme.
Since his appointment in October 2023, Olukoyede said the agency has handled over 19,000 petitions, investigated 29,000 cases, filed 10,525 in court, and secured 7,503 convictions. In addition to the ₦566.3 billion recovered, the EFCC also seized $411.5 million and more than 1,500 real estate assets.
He explained that the agency has reopened several dormant cases involving high-profile Nigerians and prosecuted a number of former governors, ministers, and public officials, including ex-CBN Governor Godwin Emefiele.
Olukoyede noted that the Commission’s recent crackdown on currency racketeering and cryptocurrency fraud helped stabilise the naira. A 2024 sting operation also resulted in the arrest of 792 suspects, including 192 foreigners.
To strengthen accountability within the agency, the EFCC has created new directorates for risk assessment, innovation, and asset recovery, while 55 staff were dismissed for various misconducts. International partnerships have also been expanded with the FBI, the UK’s National Crime Agency, and INTERPOL, leading to the recovery of assets abroad.
The EFCC, he added, has launched EFCC Radio 97.3 FM to boost public awareness and promote integrity, as part of efforts to rebuild public confidence in the Commission.
Olukoyede reaffirmed the agency’s commitment to transparency and pledged that its operations will remain aligned with the Tinubu administration’s Renewed Hope Agenda.