EFCC Recovers N1.23tn, $684m As Convictions Hit 10,872—Olukoyede

The Economic and Financial Crimes Commission (EFCC) has recovered more than N1.23tn and $684m in 32 months, while securing thousands of convictions and forfeiting thousands of assets, the commission’s Chairman, Ola Olukoyede, has said.

Olukoyede disclosed this on Monday while speaking with media executives and journalists in Abuja, where he gave an account of the commission’s activities since he assumed office.

According to him, the EFCC recovered N1.233tn, $684.48m, £373,905.78 and €9.34m between October 1, 2023 and June 30, 2026.

He said N397.26bn of the naira recovery, representing about 33 per cent, was recovered directly for the Federal Government, while N836.34bn, or 67 per cent, represented recoveries made on behalf of government ministries.

Beyond the financial recoveries, Olukoyede said the commission secured 10,872 convictions within the period.

The EFCC also recorded the forfeiture of 10,053 assets, highlighting the commission’s focus on tracing and recovering properties and other assets allegedly linked to financial crimes.

The chairman said the figures reflected the commission’s efforts to strengthen its investigations, prosecutions and asset recovery operations.

The latest figures represent a significant increase from the recoveries reported by the commission during the first two years of Olukoyede’s tenure.

In October 2025, the EFCC said it had recovered N566.3bn and $411m within Olukoyede’s first two years in office. The commission also reported the recovery of 1,502 properties during the period.

Olukoyede has consistently maintained that the EFCC’s mandate extends beyond recovering cash, with the agency pursuing properties, vehicles and other assets suspected to have been acquired with proceeds of crime.

The commission has used both criminal prosecutions and forfeiture proceedings to recover assets linked to alleged corruption, fraud, money laundering and other financial offences.

In some cases, the EFCC has pursued non-conviction-based forfeiture proceedings where it alleges that assets were acquired with proceeds of unlawful activities.

Olukoyede has also stressed the importance of international cooperation in tracing funds and assets allegedly moved outside Nigeria as part of efforts to prevent suspects from concealing proceeds of crime abroad.

The EFCC’s activities during the period have included investigations into alleged financial crimes involving public officials, businesses and individuals, as well as prosecutions arising from the investigations.

The commission has continued to rely on court orders in securing the forfeiture of assets suspected to be proceeds of crime, with some of its actions subsequently challenged by affected individuals and entities.

Olukoyede’s latest disclosure covers the period from October 1, 2023, when he assumed office, to June 30, 2026.

The figures provide an overview of the commission’s enforcement activities under his leadership, combining financial recoveries, asset forfeitures and criminal convictions recorded during the 32-month period.