By Kazeem Ugbodaga
The Economic and Financial Crimes Commission (EFCC) says it recovered ₦1.233 trillion and $684.48 million in proceeds and assets between October 2023 and July 2026, while securing 10,872 convictions from 14,476 cases filed in court.
EFCC Chairman, Ola Olukoyede, disclosed the figures on Monday in Abuja while presenting an account of his stewardship since assuming office in October 2023.
The figures cover 34 months of the commission’s operations under Olukoyede, providing a broad assessment of its enforcement, prosecution and asset-recovery activities during the period.
Of the ₦1.233 trillion recovered, ₦397.26 billion was classified as direct recovery for the Federal Government, while ₦836.35 billion was recovered on behalf of individuals, corporate organisations and government agencies, according to the commission.
The EFCC said its foreign-currency recoveries covered 16 currencies, with the dollar component alone amounting to $684.48 million.
Olukoyede said the commission’s work was not limited to recovering money but also involved converting recovered proceeds into fiscal space, restitution, social investment and broader economic benefits.
The commission said it received 49,673 petitions during the period and investigated 39,615 cases. It filed 14,476 cases in court and secured 10,872 convictions, representing a conviction-to-filing ratio of about 75 per cent.
The EFCC also recorded 1,370 convictions from 1,889 cases filed in the first half of 2026, according to the figures presented at the briefing.
The commission said its investigations covered a wide range of financial crimes, including advance-fee fraud, bank fraud, money laundering, procurement fraud, economic-governance offences, cybercrime, extractive-industry fraud, land and property fraud and tax-related offences.
Olukoyede said cybercrime and advance-fee fraud remained among the major categories of offences investigated by the commission, while the agency also recorded increases in areas including procurement fraud, bank fraud and economic-governance offences.
The chairman also disclosed that 234 Bureau de Change-related cases were under investigation, with 72 convictions already secured, according to reports from the briefing.
Beyond financial recoveries, the EFCC has increasingly emphasised the use of recovered assets for public benefit. In July, for instance, the commission handed over 1,452 recovered hostel items, including bunk beds and mattresses, to the Federal Ministry of Education for use in Federal Unity Colleges.
The latest figures come amid heightened attention on the commission’s asset-recovery activities, including high-value forfeiture proceedings involving properties, cash and other assets.
Olukoyede has previously said that the commission secured forfeiture of cash and assets worth more than $500 million for the Federal Government over three years.
