The Economic and Financial Crimes Commission (EFCC) has recorded 10,872 convictions and recovered over N1.23 trillion in cash and assets in the last 34 months, its chairman, Ola Olukoyede, said. Olukoyede disclosed this at a media interactive session to mark his three-year stewardship at the commission’s headquarters in Abuja on Monday.
He described the period between October 2023 and July 2026 as a “period of sustained enforcement, institutional reform, prosecution, asset recovery, restitution and stronger collaboration at home and abroad.” The EFCC boss recalled that at his confirmation by the National Assembly, he outlined a three-pronged agenda focused on the commission’s mandate, using the anti-graft war to stimulate economic growth and adherence to the rule of law.
He said that “to the glory of God, we have kept faith with the agenda of proper focus on the mandate of the EFCC in the overall interest of Nigerians. He said, “asset recovery has been another major pillar of our stewardship. “Between Oct. 1 2023 and June 30, 2026, the commission recorded recoveries of N1, 233,612,040,411.11, $684.478,457.32, £373,905.78, €9,343,803.66 in addition to recoveries in other currencies. “Of the naira amount, approximately N397.26 billion (33 per cent) represented direct recoveries for the Federal Government.
“Also, N836.34 billion (67 per cent) represented indirect recoveries made on behalf of Ministries, Departments and Agencies (MDAs), state revenue services, companies, individuals and foreign victims. “Two out of every three naira recovered were on behalf of beneficiaries other than the Federal Government.” According to him, recovery is only truly meaningful when value is returned to the public interest and to the rightful beneficiaries.
“During the period, N661.32 billion and 492.37 million U.S. dollars were released to beneficiaries. The naira releases included about N325.35 billion, paid directly to individuals and corporate bodies.