The Economic and Financial Crimes Commission (EFCC) has recovered over ₦566 billion, $411 million, and 1,502 properties in the past two years under the leadership of its Chairman, Ola Olukoyede.

Olukoyede, represented by Wilson Uwujaren, the Commission’s Director of Public Affairs, disclosed this on Thursday during a press briefing in Abuja to mark his second anniversary in office.

Appointed on 18 October 2023 and confirmed by the Senate the following day, Olukoyede said the EFCC had made “unprecedented progress” in combating economic and financial crimes across multiple fronts.

Between October 2023 and September 2025, the Commission received over 19,000 petitions, conducted 29,240 investigations, filed 10,525 cases in court, and secured 7,503 convictions.

“In the same period, the EFCC recovered ₦566,319,820,343.40, $411,566,192.32, £71,306.25, €182,877.10, and other foreign currencies from the proceeds of financial crimes,” he said.

According to him, 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 major recoveries were the final forfeiture of 753 duplex units in Lokogoma, Abuja, and Nok University, now renamed the Federal University of Applied Sciences, Kachia, Kaduna State.

Olukoyede listed several high-profile prosecutions within the period, including those of former governors Willie Obiano, Abdulfatah Ahmed, Darius Ishaku, Theodore Orji and Yahaya Bello.

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

He also noted that longstanding corruption cases involving Fred Ajudua, former PDP Chairman Haliru Bello Mohammed, ex-National Security Adviser Sambo Dasuki, and former NSITF boss, Ngozi Olojeme, had been revived.

In December 2024, the Commission arrested 792 suspects linked to investment and cryptocurrency fraud in Lagos, including 192 foreign nationals who were subsequently prosecuted and deported.
“This sent a strong message that Nigeria will not allow its territory to become a haven for cybercriminals,” he said.

Olukoyede revealed that ₦100 billion from recovered funds had been channelled into key national programmes such as the Students Loan Scheme and Consumer Credit Scheme.
He added that other agencies, including the Niger Delta Development Commission (NDDC), Asset Management Corporation of Nigeria (AMCON), Federal Inland Revenue Service (FIRS), and National Health Insurance Authority (NHIA), also benefited.

Some recovered properties, he said, had been allocated to government agencies for office use, in line with the EFCC’s policy of putting recovered assets to productive use.

He further highlighted the establishment of a Task Force on Naira Abuse and Dollarisation of the Economy, which he said has helped sanitise currency operations and reduce speculative pressure on the naira.

The EFCC chairman underscored the Commission’s dual approach to tackling cybercrime — enforcement and prevention — citing the National Cybercrime Dialogue (January 2024) and the National Cybercrime Summit (October 2024), where First Lady Senator Oluremi Tinubu unveiled the Cybercrime Response Centre.

He also detailed strengthened international partnerships with the FBI, UK’s National Crime Agency (NCA), INTERPOL, and Japan’s JICA, which have led to joint investigations and 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 said.

Regionally, Olukoyede’s role as President of the Network of National Anti-Corruption Institutions in West Africa (NACIWA) has resulted in the establishment of a permanent secretariat in Abuja.

He also announced several internal reforms, including the creation of the Directorate of Fraud Risk Assessment and Control (FRAC) to strengthen corruption prevention.

“You cannot fight corruption with corruption,” he emphasised, disclosing that all EFCC staff were directed to declare their assets upon his assumption of office.

“Those who breached ethical standards were sanctioned in line with due process. Fifty-five officers have been dismissed for misconduct, including one currently facing prosecution for tampering with exhibits,” he added.

Olukoyede said the Commission continues to reward diligence, noting that hardworking officers have benefited from promotions, provision of CNG buses, and improved allowances.

He reaffirmed that prevention remains central to his administration’s anti-corruption strategy.
“Prevention is more cost-effective than enforcement. That is why we created FRAC to deploy risk-based strategies in monitoring the budget performance of Ministries, Departments and Agencies,” he said.