EFCC Recovers N1.23 Trillion, $684 Million in 34 Months

The Economic and Financial Crimes Commission recovered N1.23 trillion and $684.48 million in proceeds of crime over a 34-month period, while securing 10,872 convictions, the agency's chairman announced on Monday. Chairman Ola Olukoyede presented the figures during a media briefing at the EFCC headquarters in Abuja, detailing the commission's performance since he assumed office in October 2023. The recoveries, made between October 1, 2023, and July 31, 2026, spanned 16 currencies. Olukoyede explained that approximately N397.26 billion, or 33 percent of the naira total, was recovered directly for the Federal Government. The remaining N836.35 billion represented indirect recoveries made on behalf of ministries, departments, agencies, state revenue services, companies, individuals, and foreign victims. The chairman emphasized that recovery is meaningful only when assets are returned to rightful beneficiaries, noting that N661.32 billion and $492.37 million had already been released through restitution and other channels. On enforcement, the EFCC received 49,673 petitions and investigated 39,615 cases during the period.