EFCC Recovers N1.23trn, Secures 10,872 Convictions Under Olukoyede

The Economic and Financial Crimes Commission (EFCC) has recovered over N1.23 trillion and secured 10,872 convictions in the first 34 months of Ola Olukoyede’s tenure as Executive Chairman of the anti-graft agency.

Olukoyede disclosed this on Monday, August 31, 2026, during a media briefing at the EFCC headquarters in Abuja to mark his three-year stewardship.

According to him, between October 2023 and July 2026, the Commission received 49,673 petitions, investigated 39,615 cases and filed 14,476 cases in court, resulting in 10,872 convictions.

He said the figures represented a 75.1 per cent conviction-to-filing ratio, adding that 1,370 convictions were secured from 1,889 filings in the first half of 2026 alone.

Olukoyede said the EFCC had also recorded significant progress in asset recovery, with recoveries amounting to N1.233 trillion, $684.48 million, £373,905.78 and €9.34 million between October 2023 and June 2026.

He explained that about N397.26 billion, representing 33 per cent of the naira recoveries, was recovered directly for the Federal Government, while N836.34 billion, or 67 per cent, was recovered on behalf of ministries, departments and agencies, state revenue services, companies, individuals and foreign victims.

The EFCC chairman said N661.32 billion and $492.37 million had subsequently been released to beneficiaries during the period.

He disclosed that the Commission also recovered approximately N288.1 billion in federal and state taxes, comprising N173.2 billion in federal tax recoveries and N114.9 billion for states’ internal revenue services.

Olukoyede said the anti-graft agency’s activities had extended beyond conventional corruption cases, noting that 46,288 offences were recorded between 2024 and 2026 across nine major crime categories.

He said advance fee fraud and cybercrime accounted for nearly two-thirds of the offences, while procurement fraud, bank fraud, cybercrime and economic-governance offences recorded notable increases between 2024 and 2025.

On high-profile prosecutions, Olukoyede maintained that the Commission had continued to pursue cases without regard to the status of suspects.

He cited the recent convictions of former Minister of Power Saleh Mamman, former NEXIM Bank Managing Director Robert Orya and Chukwunyere Nwabuoku among notable cases handled by the Commission.

He stressed that no office or title would place anyone beyond the reach of the law, saying the EFCC would continue to investigate professionally and prosecute cases based on evidence.

The chairman also disclosed that the Commission recorded 920 specialised cases involving money laundering, unlicensed bureaux de change, illegal mining, virtual assets and terrorist financing, securing 212 convictions.

On asset forfeiture, he said the EFCC secured forfeiture of 10,053 tangible assets through interim and final court orders between October 2023 and July 2026.

The assets included 8,198 electronic items, 1,177 real estate properties, 370 automobiles and 251 plots of land, as well as schools, factories, hotels, shops, oil rigs, barges, machinery and aircraft.
He added that 102 tonnes of solid minerals were also forfeited, while proceeds from the disposal of assets under final forfeiture orders amounted to approximately N12.07 billion, which was paid to the Federal Government.

Olukoyede highlighted the conversion of the forfeited NOK University into the Federal University of Applied Sciences, Kachia, Kaduna State, saying 1,909 students matriculated into the institution in December 2025.

He also pointed to the allocation of N50 billion each from recovered proceeds to the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation, describing the development as an example of recovered criminal assets being redirected toward productive national purposes.

According to him, the Commission’s enforcement activities also contributed to Nigeria’s removal from the Financial Action Task Force (FATF) Grey List in October 2025.

He said the EFCC recorded 234 bureaux de change cases and secured 73 convictions within the period, with the objective of supporting a more transparent and compliant foreign exchange market.

On institutional reforms, Olukoyede said the EFCC had introduced new guidelines on arrest and bail, reviewed sting operations and established specialised units, including the Department of Fraud Risk Assessment and Control, Security Department, Immigration and Visa Section and Cybercrime Rapid Response Centre.

He said new directorates had also been commissioned in Enugu and Ilorin, while additional directorates were established in Ekiti, Anambra and Katsina states to improve public access to the Commission.

Olukoyede disclosed that almost 60 per cent of the EFCC’s processes and operations had been digitalised, with further investments being made in technology, including the EFCC Academy and its 24/7 Cybercrime Rapid Response Centre.

Looking ahead, the EFCC chairman said the Commission would prioritise prevention, faster restitution, improved investigative technology and greater professionalism in its dealings with citizens.

He said the agency would intensify the fight against economic and financial crimes while respecting due process and focusing on outcomes that deliver measurable value to Nigerians.