The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, says the agency has achieved unprecedented results over the past two years, recovering more than ₦566 billion and several foreign currencies from proceeds of financial crimes.
Speaking at a media briefing in Abuja on Thursday, Olukoyede revealed that ₦100 billion of the recovered funds had been channelled into key national initiatives, including the Students Loan Scheme and the Consumer Credit Scheme, in line with the Federal Government’s vision to expand access to education and affordable credit.
“Some of the properties recovered have been allocated to government agencies for use as offices, in line with our policy of ensuring that recovered assets are put to productive use,” he added.
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 1,502 non-monetary assets, including 402 properties in 2023, 975 in 2024, and 125 so far in 2025.
Olukoyede cited high-profile cases involving former governors Willie Obiano, Abdulfatah Ahmed, Darius Ishaku, Theodore Orji, and Yahaya Bello; as well as former ministers Olu Agunloye, Mamman Saleh, Hadi Sirika, Charles Ugwu, and ex-CBN Governor Godwin Emefiele.
He also disclosed the arrest of 792 suspects in investment and cryptocurrency fraud cases in Lagos, including 192 foreigners who were prosecuted and deported.
According to him, the Commission has set up a Task Force on Naira Abuse and Dollarisation of the Economy, which has recorded progress in sanitising currency operations nationwide.
Olukoyede emphasised that the EFCC’s work goes beyond recovery figures, noting that returned funds have also supported agencies such as the Niger Delta Development Commission (NDDC), Asset Management Corporation of Nigeria (AMCON), Federal Inland Revenue Service (FIRS), and the National Health Insurance Authority (NHIA).
