The Economic and Financial Crimes Commission (EFCC) says it has recovered over ₦566 billion, $411 million, and 1,502 properties between October 2023 and September 2025 as part of renewed efforts to combat corruption, cybercrime, and financial malfeasance in Nigeria.
The disclosure was made by EFCC Executive Chairman, Mr. Ola Olukoyede, during a press briefing held on Thursday, October 23, 2025, at the Commission’s headquarters in Abuja, to commemorate his second anniversary in office.
Olukoyede, who was appointed in October 2023 and confirmed by the Senate shortly after, said the two-year period had been defined by “record-breaking reforms, unprecedented recoveries, and bold enforcement actions.”
Speaking through the EFCC Director of Public Affairs, Commander Wilson Uwujaren, Olukoyede revealed that the Commission recorded major recoveries and successful prosecutions across all operational fronts.
According to him, within the 24-month period, the Commission received over 19,000 petitions, conducted 29,240 investigations, filed 10,525 cases in court, and secured 7,503 convictions.
“Between October 2023 and September 2025, the Commission recovered ₦566,319,820,343.40, $411,566,192.32, £71,306.25, €182,877.10, and other foreign currencies,” Olukoyede disclosed.
He also confirmed the recovery of 1,502 non-monetary assets, including 402 properties in 2023, 975 in 2024, and 125 so far in 2025.
Among the most notable forfeitures, he cited the 753-unit duplex estate in Lokogoma, Abuja, and Nok University in Kaduna, which has now been converted to the Federal University of Applied Sciences, Kachia.
“These recoveries are tangible proof of our renewed determination to trace, seize, and return illicit assets to the Nigerian state and victims of fraud,” he said.
Olukoyede highlighted several high-profile prosecutions handled within the period, involving former governors, ministers, and top government officials, such as:
- Former governors Willie Obiano, Abdulfatah Ahmed, Darius Ishaku, Theodore Orji, and Yahaya Bello.
- Former ministers Olu Agunloye, Mamman Saleh, Hadi Sirika, and Charles Ugwu.
- Former Central Bank Governor Godwin Emefiele.
The EFCC boss also revealed that in December 2024, the Commission arrested 792 suspects involved in investment and cryptocurrency scams in Lagos — including 192 foreign nationals, who were prosecuted and subsequently deported.
“That singular operation sent a strong signal that Nigeria will not serve as a haven for cybercriminals,” he said.
The EFCC also revisited and revived several longstanding corruption cases, including those involving Fred Ajudua, former PDP Chairman Haliru Bello Mohammed, former NSA Sambo Dasuki, and former NSITF boss Ngozi Olojeme.
Olukoyede disclosed that part of the recovered funds — about ₦100 billion — was channelled into key national development schemes, including the Students Loan Programme and Consumer Credit Scheme.
Other government agencies such as the Niger Delta Development Commission (NDDC), AMCON, FIRS, and the National Health Insurance Authority (NHIA) also benefited from the returned assets.
“Some recovered properties have been converted into offices for government use, in line with our policy of ensuring recovered assets serve productive purposes,” Olukoyede added.
The EFCC Chairman highlighted the establishment of a Task Force on Naira Abuse and Dollarisation of the Economy, noting that it had helped curb speculative currency trading and supported efforts by the Central Bank of Nigeria (CBN) to stabilise the naira.
He said his administration had introduced major institutional reforms, including:
- The creation of the Directorate of Fraud Risk Assessment and Control (FRAC).
- The renaming of the Department of Internal Affairs to the Department of Ethics and Integrity.
- The creation of three new Zonal Directorates in Ekiti, Anambra, and Katsina States, bringing the total to 17.
- The ongoing development of the new EFCC Academy in Giri, featuring a Cybercrime Research Centre.
- The establishment of new specialised units, including the Digital Transformation and Innovation Unit, International Assets Tracing and Recovery Unit, and Visa Fraud Section.
Olukoyede praised the EFCC’s growing reputation internationally, citing strategic collaborations with law enforcement agencies such as the FBI, UK National Crime Agency (NCA), INTERPOL, Royal Canadian Mounted Police, Korean Police, Spanish Police, and German Police.
These partnerships, he said, have led to joint investigations, asset repatriations, and successful convictions of international fraud syndicates.
“In 2024, we hosted the then-FBI Director Christopher Wray and NCA’s Director-General Graeme Biggar — a testament to the EFCC’s global standing,” he noted.
At the regional level, Olukoyede’s re-election as President of the Network of National Anti-Corruption Institutions in West Africa (NACIWA) has strengthened regional cooperation, with a permanent secretariat now established in Abuja.
Reaffirming his stance on transparency, Olukoyede declared, “You cannot fight corruption with corruption.”
He said all EFCC personnel were mandated to declare their assets upon his assumption of office, while 55 officers had been dismissed or sanctioned for ethical breaches — including one now facing prosecution for tampering with evidence.
At the same time, he said the Commission had introduced incentives for deserving officers, including promotions, welfare packages, and provision of CNG buses for staff mobility.
The EFCC Chair also spoke on the Commission’s renewed efforts to address cybercrime through prevention, education, and community engagement.
He recalled hosting the National Cybercrime Dialogue in January 2024 and the National Cybercrime Summit in October 2024, where First Lady Oluremi Tinubu inaugurated the Cybercrime Response Centre.
“We brought together traditional rulers, religious leaders, and young people to discuss alternatives to cybercrime — because enforcement alone is not enough,” Olukoyede said.
As he marked his second year in office, Olukoyede reaffirmed his administration’s commitment to integrity, professionalism, and the continuous strengthening of Nigeria’s anti-graft framework.
“We remain steadfast in ensuring that stolen wealth is recovered, justice is served, and corruption finds no refuge in Nigeria,” he vowed.
With over ₦566 billion recovered, thousands of convictions secured, and landmark institutional reforms underway, the EFCC under Olukoyede’s leadership appears poised to sustain its campaign against financial crimes — even as Nigerians continue to demand transparency, justice, and lasting deterrence.