Ola Olukoyede, Executive Chairman of the Economic and Financial Crimes Commission (EFCC), announced that the agency recovered over N566 billion in two years, contributing to President Bola Tinubu’s economic reforms through enforcement, asset recovery, and institutional reforms. Approximately N100 billion of the funds supported the Students’ Loan Scheme and Consumer Credit Scheme.
Since Olukoyede’s appointment in October 2023, the EFCC has handled over 19,000 petitions, investigated 29,000 cases, filed 10,525 court cases, and secured 7,503 convictions. The agency also recovered $411.5 million and over 1,500 real estate assets. High-profile cases, including that of former CBN Governor Godwin Emefiele, were revived, and a 2024 sting operation led to 792 arrests, including 192 foreigners, for currency racketeering and crypto fraud, aiding naira stabilization.
The EFCC introduced internal reforms, establishing directorates for risk assessment, innovation, and asset recovery, and dismissed 55 staff for misconduct.
International partnerships with the FBI, UK NCA, and INTERPOL facilitated asset recovery abroad. Additionally, the launch of EFCC Radio 97.3 FM and rebranding efforts aim to boost public awareness and trust in the agency’s anti-corruption efforts aligned with the Renewed Hope Agenda.
