The Economic and Financial Crimes Commission (EFCC) has secured 10,872 convictions and recovered more than ₦1.23 trillion in its first 34 months under the leadership of its Executive Chairman, Ola Olukoyede.
Olukoyede disclosed this on Monday at a media briefing at the EFCC headquarters in Abuja to mark his three-year stewardship of the anti-graft agency.
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, recording a conviction-to-filing ratio of 75.1 per cent.
He said the EFCC secured 1,370 convictions from 1,889 cases filed in the first half of 2026 alone.
₦1.23trn recovered
Olukoyede said the Commission recovered ₦1.233 trillion, $684.48 million, £373,905.78 and €9.34 million between October 1, 2023 and June 30, 2026, alongside recoveries in other currencies.
He said about ₦397.26 billion, representing 33 per cent of the naira recoveries, constituted direct recoveries for the Federal Government, while ₦836.34 billion, or 67 per cent, was recovered on behalf of ministries, departments and agencies, state revenue services, companies, individuals and foreign victims.
He added that ₦661.32 billion and $492.37 million had been released to beneficiaries during the period.
According to him, the naira releases included about ₦325.35 billion paid directly to individuals and corporate bodies, while ₦335.97 billion was released to MDAs, revenue services and other public institutions and beneficiaries.
Recovery boosts government revenue
The EFCC chairman said the Commission’s enforcement activities also contributed significantly to revenue mobilisation, with federal and state tax recoveries amounting to approximately ₦288.1 billion.
Of the amount, he said ₦173.2 billion was recovered in federal taxes, while ₦114.9 billion was attributed to state internal revenue services.
An additional ₦257.2 billion in naira recoveries was recorded for federal ministries, departments and agencies.
Olukoyede said the figures demonstrated that anti-corruption enforcement could strengthen government revenue without imposing new taxes.
Recovered assets deployed for public good
The EFCC boss highlighted the conversion of recovered assets into productive social investments, citing the former NOK University in Kaduna State, which was forfeited and converted into the Federal University of Applied Sciences, Kachia.
He said 1,909 students matriculated into the institution in December 2025, describing the development as an example of how recovered criminal proceeds could be transformed into opportunities for Nigerians.
He also disclosed that another high-value private university had recently been finally forfeited to the Federal Government.
Between October 2023 and July 2026, Olukoyede said the Commission secured the forfeiture of 10,053 tangible assets under interim and final court orders.
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 about ₦12.07 billion and were paid into the Federal Government’s coffers.
Tackling cybercrime, money laundering
Olukoyede said the Commission’s investigations showed that advance fee fraud and cybercrime accounted for nearly two-thirds of 46,288 offences recorded across nine major crime typologies between 2024 and 2026 year-to-date.
He said total recorded offences increased by 24.1 per cent between 2024 and 2025, with significant increases in procurement fraud, bank fraud, cybercrime and economic-governance offences.
The EFCC also recorded 920 specialised cases involving money laundering, unlicensed bureaux de change, illegal mining, virtual assets and terrorist financing, with 212 convictions secured.
On foreign exchange-related crimes, he said the Commission recorded 234 BDC cases and secured 73 convictions over the last three years.
High-profile prosecutions
Olukoyede said the EFCC had continued to prosecute high-profile corruption cases without regard to the status of suspects.
He said the Commission’s portfolio included former governors, ministers, public office holders, heads of government agencies, financial-sector operators and corporate officials.
Among recent high-profile Nigerians convicted, he listed Saleh Mamman, Robert Orya and Chukwunyere Nwabuoku.
He reiterated that no office or title would place anyone beyond the reach of the law, stressing that investigations would be professionally conducted while guilt or innocence would ultimately be determined by the courts.
Institutional reforms, digitalisation
The EFCC chairman said the Commission had undertaken several institutional reforms during his tenure, including new guidelines on arrest and bail, a review of sting operations and the creation of specialised units.
These include the Department of Fraud Risk Assessment and Control, Security Department, Immigration and Visa Section and Cybercrime Rapid Response Centre.
He said the Commission also commissioned directorates in Enugu and Ilorin and established new directorates in Ekiti, Anambra and Katsina states to improve access to its services.
According to him, policies on gifts and hospitality, conflict of interest and exhibit-room security were also introduced, while the Internal Affairs Department was renamed and restructured as the Ethics and Integrity Department.
Olukoyede said almost 60 per cent of the Commission’s processes and operations had been digitalised, with further investments being made in technology, including the new EFCC Academy, a 24/7 Cybercrime Rapid Response Centre and EFCC Radio.
Nigeria’s financial system
He also linked the Commission’s enforcement activities to Nigeria’s removal from the Financial Action Task Force (FATF) Grey List in October 2025.
He said enforcement in areas including money laundering, terrorist financing, asset freezing and confiscation, virtual assets and other high-risk sectors formed part of the country’s broader effort to strengthen its anti-money laundering and counter-financing of terrorism framework.
Olukoyede said the EFCC’s collaboration with domestic and international law-enforcement agencies had also strengthened its capacity to tackle increasingly sophisticated and cross-border financial crimes.
Its international partners include the FBI, UK’s National Crime Agency, Royal Canadian Mounted Police and INTERPOL.
Looking ahead, the EFCC chairman said the Commission would focus on prevention, faster restitution, improved investigative technology and greater professionalism in its dealings with citizens.
He said the agency remained committed to fighting corruption and economic crime while respecting due process and ensuring that enforcement produced measurable value for Nigerians.