Economic and Financial Crimes Commission (EFCC) has recovered over ₦566 billion, $411 million, and 1,502 properties from proceeds of financial and economic crimes between October 2023 and September 2025.
EFCC Chairman, Mr. Ola Olukoyede, disclosed this on Thursday during a media chat in Abuja, stating that the recovered assets have been deployed to key national initiatives including the Students Loan Scheme and Consumer Credit Scheme.
Olukoyede, who assumed office on Oct. 18, 2023, said the Commission also remitted funds to agencies such as the Niger Delta Development Commission (NDDC), Asset Management Corporation of Nigeria (AMCON), Federal Inland Revenue Service (FIRS), and National Health Insurance Authority (NHIA).
“In the past two years, we received over 19,000 petitions, conducted 29,240 investigations, filed 10,525 cases in court, and secured 7,503 convictions,” he said.
He added that the EFCC recovered ₦566,319,820,343.40, $411,566,192.32, £71,306.25, €182,877.10, and other foreign currencies, alongside 1,502 non-monetary assets.
Among the recovered assets are 753 duplexes in Lokogoma, Abuja, and Nok University, now renamed the Federal University of Applied Sciences, Kachia, Kaduna State.
Olukoyede listed several high-profile cases prosecuted during the period, including those involving former governors and ministers, as well as former Central Bank Governor, Mr. Godwin Emefiele.
He also revealed that in December 2024, the Commission arrested 792 suspects in Lagos for investment and cryptocurrency fraud, including 192 foreigners who were prosecuted and deported.
“The EFCC will not allow Nigeria to become a safe haven for cybercriminals,” he said.
Olukoyede noted that some recovered properties have been allocated to government agencies for use as offices, in line with the Commission’s policy of putting recovered assets to productive use.
He further highlighted the establishment of a Task Force on Naira Abuse and Dollarisation of the Economy, which he said has made significant impact in sanitizing currency operations nationwide.
