Photo Credit: The Sun Nigeria / EFCC
EFCC Recovers N1.233 Trillion, Secures Over 10,000 Convictions in Under 3 Years
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has announced that the anti-graft agency recovered N1.233 trillion between October 2023 and June 2026.

Olukoyede disclosed this on Monday at the EFCC headquarters in Jabi, Abuja, while presenting his stewardship report since assuming office in October 2023.

According to him, the Commission also recovered $684.48 million, £373,905.78 and €9.34 million, alongside recoveries in other foreign currencies.

He explained that of the total naira recoveries, N397.26 billion (33%) were direct recoveries for the Federal Government, while N836.34 billion (67%) were indirect recoveries made on behalf of ministries, departments and agencies (MDAs), state revenue services, companies, individuals and foreign victims.

“Two out of every three naira recovered were on behalf of beneficiaries other than the Federal Government,” he said.

The EFCC boss added that the Commission has already released N661.32 billion and $492.37 million to rightful beneficiaries. This includes N325.35 billion paid to individuals and corporate bodies and N335.97 billion released to MDAs, the Nigerian Revenue Service, and state internal revenue services.

He noted that federal and state tax recoveries stood at about N288.1 billion, while N257.2 billion was recovered for federal MDAs.

Olukoyede said recovered funds have also been channelled into social impact projects. He cited the allocation of N50 billion each to the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation in 2024, with another N50 billion each approved for both institutions in 2026.

He also revealed that a recovered property, NOK University, has now been converted to the Federal University of Applied Sciences, Kachia, Kaduna State, where 1,909 students matriculated in December 2025.

On prosecution, the Commission received 49,673 petitions, investigated 39,615 cases, filed 14,476 cases in court and secured 10,872 convictions between October 2023 and July 2026 — representing a 75.1% conviction-to-filing ratio.

He added that the EFCC continues to prosecute high-profile individuals including former governors, ministers, and heads of agencies, with recent convictions including former Minister of Power, Saleh Mamman.

On asset forfeiture, Olukoyede said 10,053 assets were forfeited under interim and final court orders, including 8,198 electronic items, 1,177 real-estate assets, 370 vehicles, and 251 plots of land. Proceeds from disposed forfeited assets amounting to N12.07 billion have been remitted to the Federal Government.

He said the Commission’s efforts contributed to Nigeria’s removal from the Financial Action Task Force (FATF) Grey List in October 2025.
Source: The Sun Nigeria –