The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has announced recoveries worth N1.3 trillion between June 1, 2023, and June 30, 2026.

Speaking at a news conference in Abuja, Olukoyede said the recoveries were recorded during the period under review.

He also disclosed that 234 cases involving Bureau de Change operators were under investigation, with 72 convictions secured.

The categories of crimes investigated by the commission include advance-fee fraud, bank fraud, economic governance fraud, money laundering, procurement fraud, cybercrime, extractive industry fraud, land and property fraud, and tax fraud.

The EFCC chairman also defended the commission’s latest policy on the management of asset auctions under the Proceeds of Crime Act (POCA), stressing that the policy falls within its mandate.

Olukoyede further announced plans by the commission to launch a 24-hour rapid-response centre by September, through which members of the public will be able to report economic crimes.

He also disclosed that 50 staff members of the commission had been dismissed in the past three years, while five were facing prosecution.