The Economic and Financial Crimes Commission (EFCC) has secured 10,872 convictions and recovered over N1.23 trillion and $684.48 million in the first 34 months of the administration of its Chairman, Ola Olukoyede.
Olukoyede disclosed this yesterday in Abuja while presenting his stewardship report on the activities and achievements of the anti-graft agency since he assumed office in October 2023.
He said the period witnessed sustained enforcement, institutional reforms, prosecution, asset recovery and restitution, as well as increased collaboration with local and international law-enforcement agencies.
According to him, between October 2023 and July 2026, the EFCC 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, while the commission alone recorded 1,370 convictions from 1,889 court filings in the first half of 2026.
“These results reflect diligence, resilience and a prosecutorial approach anchored on evidence and courtroom outcomes,” Olukoyede said.
He disclosed that the commission’s analysis of cases between 2024 and 2026 identified 46,288 offences across nine major categories, with advance-fee fraud and cybercrime accounting for almost two-thirds of the recorded offences.
The EFCC boss, however, said the rise in financial crimes remained a major concern, noting that recorded offences increased by 24.1 per cent between 2024 and 2025, particularly in procurement fraud, bank fraud, cybercrime and economic-governance offences.
He said the commission had continued to pursue high-profile cases involving former governors, ministers, public office holders, heads of government agencies, financial-sector operators and corporate executives.
Among those recently convicted, he listed former Minister of Power, Saleh Mamman; former NEXIM Bank Managing Director, Robert Orya; and former Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Chukwunyere Nwabuoku.
Olukoyede reiterated that the EFCC would enforce the law without discrimination, stressing that no position or title would place anyone beyond the reach of justice.
N1.23trn, $684m recovered
Giving a breakdown of the recoveries, the EFCC chairman said the commission recovered N1,233,612,040,411.11, $684,478,457.32, £373,905.78 and €9,343,803.66 between October 1, 2023 and June 30, 2026.
He explained that about N397.26 billion, representing 33 per cent of the naira recoveries, constituted direct recoveries for the Federal Government, while N836.34 billion, or 67 per cent, represented indirect recoveries made on behalf of ministries, departments and agencies, state revenue services, companies, individuals and foreign victims.
He said two out of every three naira recovered by the commission during the period were recovered on behalf of beneficiaries other than the Federal Government.
Olukoyede added that N661.32 billion and $492.37 million had subsequently been released to beneficiaries.
The naira releases, he said, included about N325.35 billion paid directly to individuals and corporate bodies, while N335.97 billion went to government ministries, departments and agencies, revenue authorities, state internal revenue services and other public institutions, companies and individuals.
He said the commission was working to make the restitution process faster, more transparent and efficient.
The EFCC boss also disclosed that federal and state tax recoveries stood at approximately N288.1 billion, comprising N173.2 billion in federal tax recoveries and N114.9 billion attributed to state internal revenue services.
He stressed that the money represented revenue recovered through enforcement of existing obligations and not new taxes imposed on Nigerians.
The commission also recovered about N257.2 billion for federal ministries, departments and agencies.
10,053 assets forfeited
Beyond cash recoveries, Olukoyede said the EFCC secured the 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, alongside schools, factories, hotels, shops, oil rigs, barges, machinery and aircraft.
The commission also recorded the forfeiture of 102 tonnes of solid minerals.
According to Olukoyede, proceeds from the disposal of assets under final forfeiture orders amounted to approximately N12.07 billion, which was paid to the Federal Government.
He recalled that the Federal Government, in August 2024, directed N50 billion each from EFCC recoveries to the Nigerian Education Loan Fund (NELFUND) and Nigerian Consumer Credit Corporation.
He said additional N50 billion allocations to each institution were approved in 2026.
The chairman said the conversion of recovered assets into productive investments demonstrated that anti-corruption enforcement could go beyond punishment to support education, household credit and economic development.
He also disclosed that the recovered NOK University had been converted into the Federal University of Applied Sciences, Kachia, Kaduna State, with 1,909 students matriculating in December 2025.
920 specialised cases
Olukoyede said the commission handled 920 specialised cases involving money laundering, unlicensed bureaux de change, illegal mining, virtual assets and terrorist financing, securing 212 convictions.
He said the EFCC was also intensifying efforts against emerging threats linked to virtual assets and illicit financial flows from the extractive sector.
On the foreign exchange market, he disclosed that 234 cases involving unlicensed bureaux de change were handled, resulting in 73 convictions.
He said the enforcement was aimed at promoting a more formal and transparent retail foreign-exchange market and shutting channels vulnerable to illicit finance, speculation and round-tripping.
Digitalisation, reforms
Olukoyede attributed the commission’s achievements partly to stronger collaboration with domestic and international partners, including the Federal Bureau of Investigation (FBI), United Kingdom’s National Crime Agency, Royal Canadian Mounted Police and INTERPOL.
He also disclosed that he had been re-elected president of the Network of National Anti-Corruption Institutions in West Africa (NACIWA) for another three-year term.
On reforms, the EFCC chairman said the commission had introduced new guidelines on arrest and bail, reviewed its sting operations and established 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 established in Ekiti, Anambra and Katsina states, while the Enugu and Ilorin Directorates had been commissioned.
According to him, the commission introduced policies on gifts and hospitality, conflict of interest and exhibit-room security, while its Internal Affairs Department was renamed and restructured as the Ethics and Integrity Department.
Olukoyede said almost 60 per cent of the EFCC’s processes and operations had been digitalised, with the commission investing in technology and modern investigative tools.
He listed the EFCC Academy, 24/7 Cybercrime Rapid Response Centre and EFCC Radio among its ongoing innovation and institutional development initiatives.
He said the commission’s mission was no longer limited to arrests and recoveries but was focused on converting intelligence into prevention, petitions into investigations, investigations into prosecutions, prosecutions into convictions and recoveries into restitution.
“As we look ahead, our priorities are clear: deepen prevention, ensure faster restitution, invest in better investigative technology and improved professionalism in our engagement with citizens,” he said.
Olukoyede pledged that the EFCC would intensify its fight against corruption and economic crimes while respecting due process and focusing on measurable value to Nigerians.
