The Economic and Financial Crimes Commission (EFCC) reported securing 3,175 convictions in efforts to combat economic and financial crimes in Nigeria over the past year. This announcement was made in a statement released on Wednesday. The agency also disclosed the recovery of a total of N156 billion in looted public funds during this period, returning them to the national treasury.
The EFCC Chairman, Mr. Ola Olukoyede, revealed these figures on Wednesday, May 29, 2024, during the launch of the Zero Tolerance Club at the University of Abuja, Gwagwalada, Abuja. According to the statement, Olukoyede, speaking through the Secretary to the Commission, Mohammed Hammajoda, detailed that the convictions and recoveries took place between May 29, 2023, and May 29, 2024, coinciding with President Bola Ahmed Tinubu’s assumption of office.
The Chairman highlighted the EFCC’s recovery of various currencies, including $43,835,214.24, £25,365.00, €186,947.10, ₹51,360.00, C$3,750.00, A$740.00, ¥74,754.00, R35,000.00, 42,390.00 UAE Dirhams, 247.00 Riyals, and 21,580,867631 Cryptocurrency.
Furthermore, he expressed concern over the increasing involvement of youths in cybercrime, emphasizing the need for university students to steer clear of such activities. Olukoyede warned that involvement in fraud carries long-term consequences and urged students to channel their creativity into productive endeavors instead. He emphasized that there is no justification whatsoever for engaging in cybercrime.