The Economic and Financial Crimes Commission (EFCC) says it has recovered more than N566 billion, $411 million, and over 1,500 properties linked to financial and economic crimes in the last two years. The figures, which the agency described as unprecedented, were disclosed by its Executive Chairman, Ola Olukoyede, during a press briefing at the Commission’s headquarters in Abuja on Thursday, marking his second year in office.
Olukoyede explained that the recoveries were part of the EFCC’s broader achievements between October 2023 and September 2025, during which the agency received over 19,000 petitions, conducted 29,240 investigations, filed 10,525 cases in court, and secured 7,503 convictions. He noted that, aside from monetary recoveries, the Commission also seized several high-value assets, including 753 duplexes located in the Lokogoma area of Abuja and the Nok University in Kaduna State, which has since been renamed the Federal University of Applied Sciences, Kachia.
According to him, the total recoveries under review include N566,319,820,343.40, $411,566,192.32, £71,306.25, €182,877.10, and other foreign currencies, adding that a portion of the recovered funds has been reinvested into national programmes such as the Students Loan Scheme and the Consumer Credit Scheme, with N100 billion already deployed. He further disclosed that several government institutions, including the Niger Delta Development Commission (NDDC), Asset Management Corporation of Nigeria (AMCON), Federal Inland Revenue Service (FIRS), and National Health Insurance Authority (NHIA), have benefited from restituted funds.
Olukoyede said the Commission’s recent successes stem from a more intelligence-led approach to investigations, coupled with stronger collaboration among local and international law enforcement agencies. He added that the EFCC has reopened several long-dormant corruption cases and established a special Task Force on Naira Abuse and the Dollarisation of the Economy to curb illicit currency transactions.
The EFCC chairman expressed concern over a new pattern among corrupt politicians and public officials who now hide illicit funds in cryptocurrencies and other digital assets. He said the Commission had expanded its cyber and financial intelligence units to track virtual assets used for money laundering and other economic crimes.
“In the last two years, we have made unprecedented progress in the fight against financial crimes,” Olukoyede said. “We are now going after more complex schemes involving digital transactions, international networks, and sophisticated laundering techniques. Our goal is not just to recover stolen assets but to strengthen Nigeria’s financial integrity.”
He revealed that in December 2024 alone, 792 suspects linked to investment and cryptocurrency-related fraud were arrested in Lagos, including 192 foreign nationals who were later prosecuted and deported. The EFCC has also intensified its prosecution of several high-profile corruption cases involving former public officials. Among those named are ex-governors Willie Obiano, Abdulfatah Ahmed, Darius Ishaku, Theodore Orji, and Yahaya Bello. Others include former ministers Olu Agunloye, Mamman Saleh, Hadi Sirika, Charles Ugwu, and former Central Bank Governor, Godwin Emefiele.
Olukoyede emphasized that the Commission’s commitment to accountability goes beyond arrests and recoveries, noting that the EFCC continues to play an advisory role to public institutions on financial compliance and transparency. He added that the Commission’s work has also contributed directly to national development by redirecting stolen public funds into sectors that benefit ordinary Nigerians.
“The EFCC is not just about fighting corruption; it is about restoring public trust and ensuring that public resources are used for the common good,” he said. “We will continue to pursue every case diligently, recover every stolen kobo, and hold every offender accountable, regardless of status or political connection.”
Olukoyede reaffirmed that the Commission would sustain its momentum through advanced digital forensics, cross-border cooperation, and continuous capacity building for its operatives. He urged Nigerians to remain vigilant and report cases of financial misconduct, stressing that public support remains vital to the success of the anti-corruption war.
He concluded that the EFCC’s renewed drive aligns with President Bola Tinubu’s economic reforms aimed at rebuilding investor confidence, enhancing fiscal transparency, and strengthening the rule of law.
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EFCC Reports Recovery of Over N566bn, $411m Assets from Financial Crimes
The Economic and Financial Crimes Commission (EFCC) says it has recovered more than N566 billion, $411 million, and over 1,500 properties linked to financial
