EFCC recovers N566bn in 2 years — Olukoyede
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, proudly reported that the agency has reclaimed a staggering sum of over ¦ 566 billion and has played a pivotal role in enhancing President Bola Tinubu’s ambitious economic reform initiatives through diligent enforcement, strategic asset recovery, and comprehensive institutional rejuvenation.
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According to the EFCC’s mid-term report unveiled in Abuja on Thursday, a portion of the reclaimed funds — roughly ¦ 100 billion — has been channelled into the enlightening Students’ Loan Scheme and the beneficial Consumer Credit Scheme.
‘How can I raise N474m? But everyday is torture’, cries Amirah, an acid attack survivor.
Since his appointment in October 2023, Olukoyede revealed that the EFCC has received an astounding 19,000 petitions, thoroughly investigated 29,000 cases, filed 10,525 in court, and achieved 7,503 successful convictions. Furthermore, it has successfully recovered ¦ 566.3 billion, $411.5 million, and over 1,500 captivating real estate assets.
He elaborated that the Commission has revitalized dormant cases involving high-profile Nigerians and has taken legal action against several former governors, ministers, and public officials, including the former Central Bank Governor, Godwin Emefiele.
Olukoyede emphasized that the EFCC’s vigorous assault on currency manipulation and crypto fraud significantly contributed to stabilizing the naira, while a significant sting operation in 2024 culminated in the detainment of 792 suspects, among whom were 192 foreigners.
He noted that the agency has fortified its internal reforms by establishing new directorates for risk assessment, innovation, and asset recovery, while 55 staff members were dismissed for misconduct. In terms of international collaboration, the EFCC has strengthened its relationships with organizations such as the FBI, UK NCA, INTERPOL, and others, leading to successful recoveries of assets located abroad.
Olukoyede also mentioned the Commission’s launch of EFCC Radio 97.3 FM to foster public awareness and integrity, coupled with rebranding efforts designed to bolster public confidence.
He reaffirmed the EFCC’s unwavering commitment to transparency and its alignment of the anti-corruption agenda with the Renewed Hope Framework of the Tinubu administration.
