EFCC Chairman, Mr. Ola Olukoyede
Economic and Financial Crimes Commission (EFCC) said it has recovered over ₦566 billion, $411 million, and 1,502 assets in the last two years under the leadership of its chairman, Ola Olukoyede.
Olukoyede, who was represented by the Director of Public Affairs, Wilson Uwujaren, disclosed this on Thursday in Abuja during a press briefing to commemorate his second year in office.
Appointed on October 18, 2023, and confirmed by the Senate the following day, the EFCC chairman described the agency’s achievements as “unprecedented progress” in the ongoing fight against corruption and economic crimes.
According to him, between October 2023 and September 2025, the commission received over 19,000 petitions, conducted 29,240 investigations, filed 10,525 cases, and secured 7,503 convictions across various courts.
> “The commission in the same period recovered ₦566,319,820,343.40, $411,566,192.32, £71,306.25, €182,877.10, and other foreign currencies from proceeds of financial and economic crimes,” Olukoyede revealed.
He further disclosed that the agency recovered 1,502 non-cash assets, including 402 properties in 2023, 975 in 2024, and 125 so far in 2025. Among the notable recoveries, he said, were the final forfeiture of 753 duplex units in Lokogoma, Abuja, and Nok University in Kaduna State, now renamed the Federal University of Applied Sciences, Kachia.
Olukoyede listed several high-profile prosecutions during the period, including those of former governors Willie Obiano, Abdulfatah Ahmed, Darius Ishaku, Theodore Orji, and Yahaya Bello. Others facing prosecution include former ministers Olu Agunloye, Mamman Saleh, Hadi Sirika, Charles Ugwu, and ex-CBN Governor Godwin Emefiele.
He noted that the EFCC had also revived long-pending corruption cases involving prominent figures such as Fred Ajudua, former PDP chairman Haliru Bello Mohammed, ex-National Security Adviser Sambo Dasuki, and former NSITF boss Ngozi Olojeme.
Olukoyede highlighted a major clampdown on cryptocurrency and investment fraud in December 2024, where the EFCC arrested 792 suspects in Lagos, including 192 foreign nationals who were later prosecuted and deported.
> “This development sent a strong message that Nigeria will not allow its territory to be turned into a safe haven for cybercriminals,” he stated.
He explained that part of the recovered funds had been reinvested in key government programmes, including the Students Loan Scheme and Consumer Credit Scheme, with ₦100 billion allocated to both initiatives. Other beneficiaries, he said, include the Niger Delta Development Commission (NDDC), Asset Management Corporation of Nigeria (AMCON), Federal Inland Revenue Service (FIRS), and the National Health Insurance Authority (NHIA).
Olukoyede added that some confiscated properties were handed over to government institutions for use as offices “in line with the EFCC’s policy of putting recovered assets to productive use.”
The chairman also spoke on the creation of a Task Force on Naira Abuse and Dollarisation of the Economy, which he said had helped to stabilize currency operations and curb speculative trading.
He underscored the EFCC’s dual strategy of enforcement and prevention in combating cybercrime, recalling the National Cybercrime Dialogue held in January 2024 and the National Cybercrime Summit in October 2024, where First Lady Senator Oluremi Tinubu inaugurated the Cybercrime Response Centre.
Olukoyede noted that the Commission had strengthened international collaborations with agencies such as the FBI, the UK’s National Crime Agency (NCA), INTERPOL, and Japan’s JICA, leading to joint operations and the repatriation of stolen assets to victims in Spain, Canada, and the United States.
> “In 2024, we had the honour of hosting Christopher Wray, former FBI Director, and Graeme Biggar, Director-General of the NCA — a testament to the global respect the EFCC commands today,” he added.
As President of the Network of National Anti-Corruption Institutions in West Africa (NACIWA), Olukoyede said his tenure saw the establishment of a permanent secretariat for the body in Abuja.
He also announced several internal reforms, including the creation of the Directorate of Fraud Risk Assessment and Control (FRAC) to strengthen preventive oversight in government operations.
Reaffirming his zero-tolerance stance, Olukoyede declared,
> “You cannot fight corruption with corruption.”
He revealed that upon assuming office, all EFCC staff were directed to declare their assets, adding that 55 officers had been dismissed for misconduct — including one facing prosecution for tampering with case exhibits. Meanwhile, diligent officers have been rewarded through promotions, CNG buses, and improved allowances.
Olukoyede concluded by stressing that corruption prevention remains central to his administration’s agenda.
> “Prevention is a more cost-effective approach than enforcement. That is why we established FRAC to apply risk-based strategies in monitoring the budget performance of Ministries, Departments, and Agencies,” he said.
(NAN)
