The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, says the Commission has achieved unprecedented results in the past two years.

Olukoyede, at a media briefing in Abuja on Thursday, disclosed that the EFCC recovered over ₦566 billion and several foreign currencies from proceeds of financial crimes.

He said the recoveries demonstrated the Commission’s renewed drive to trace, confiscate, and return illicit assets to the Nigerian state and victims of fraud.

Olukoyede revealed that part of the recovered funds had been channelled into key national initiatives, including the Students Loan Scheme and Consumer Credit Scheme, with a total of ₦100 billion invested.

He said the initiative reflects the Federal Government’s vision of empowering citizens through 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,” Olukoyede stated.

7,000 Convictions, 1,500 Assets Recovered

Between October 2023 and September 2025, the EFCC said it 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.

Among the recovered assets were 753 duplexes in Lokogoma, Abuja, and Nok University, now Federal University of Applied Sciences, Kachia, Kaduna State, both under final forfeiture.

High-Profile Cases

Olukoyede highlighted several high-profile cases pursued by the EFCC within the period.

They include those involving former governors Willie Obiano, Abdulfatah Ahmed, Darius Ishaku, Theodore Orji, and Yahaya Bello.

Others are former ministers Olu Agunloye, Mamman Saleh, Hadi Sirika, Charles Ugwu, and former Central Bank Governor Godwin Emefiele.

He also confirmed the arrest of 792 suspects in investment and cryptocurrency fraud in Lagos, including 192 foreigners who were 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 said.

The EFCC Chairman further announced the establishment of a Task Force on Naira Abuse and Dollarisation of the Economy.

He said the task force had made significant progress in sanitising currency operations across the country.

Olukoyede stressed that the EFCC’s recoveries are not only about figures but also about national growth and accountability. He said agencies such as the Niger Delta Development Commission (NDDC), Asset Management Corporation of Nigeria (AMCON), Federal Inland Revenue Service (FIRS), and National Health Insurance Authority (NHIA) have also benefited from returned funds.

Source; Channels News