The Economic and Financial Crimes Commission (EFCC) has reported the recovery of N566 billion, $411 million, and 1,502 properties from proceeds of financial and economic crimes over the past two years under the leadership of its Executive Chairman, Ola Olukoyede.
Olukoyede made the disclosure on Thursday while addressing journalists at the Commission’s corporate headquarters in Abuja, as part of activities marking his second anniversary in office.
The announcement was also contained in a statement posted on the EFCC’s official X page.
According to him, between October 2023 and September 2025, the EFCC received over 19,000 petitions, conducted 29,240 investigations, filed 10,525 cases in court, and secured 7,503 convictions. The Commission also recovered £71,306.25, €182,877.10, and other foreign currencies during the same period.
“The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede has disclosed that under his leadership, the Commission has made unprecedented progress in the fight against economic and financial crimes in the last two years by recovering over N566 billion alongside other currencies and assets,” the statement read in part.
It added, “He disclosed that within the same period, the Commission recovered N566,319,820,343.40, $411,566,192.32, £71,306.25, €182,877.10, and other foreign currencies from proceeds of financial and economic crimes.”
The statement added that out of the 1,502 non-monetary assets recovered within the review period, 402 were seized in 2023, 975 in 2024, and 125 so far in 2025.
The recovered properties include 753 duplexes in Lokogoma, Abuja, and Nok University in Kaduna State, which has since been renamed the Federal University of Applied Sciences, Kachia.
According to the EFCC, part of the recovered funds has been channelled into government programmes such as the Students Loan Scheme and the Consumer Credit Scheme, with a total of N100 billion reportedly invested.
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The agency also stated that institutions including the Niger Delta Development Commission (NDDC), Asset Management Corporation of Nigeria (AMCON), Federal Inland Revenue Service (FIRS), and National Health Insurance Authority (NHIA) have benefited from returned funds.
- The Commission cited several ongoing and concluded prosecutions involving former public officials, among them ex-governors Willie Obiano, Abdulfatah Ahmed, Darius Ishaku, Theodore Orji, and Yahaya Bello.
- Others named include former ministers Olu Agunloye, Mamman Saleh, Hadi Sirika, Charles Ugwu, and former Central Bank Governor Godwin Emefiele.
It further noted that in December 2024, 792 suspects linked to investment and cryptocurrency-related fraud were arrested in Lagos, including 192 foreigners who were later prosecuted and deported.
The statement also mentioned that the Commission had reopened several longstanding corruption cases and set up a Task Force on Naira Abuse and Dollarisation of the Economy, aimed at curbing illicit currency practices across the country.
