By Luminous Jannamike
ABUJA—The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, says the agency has recovered over ¦ 566 billion and contributed significantly to President Bola Tinubu’s economic reforms through enforcement, asset recovery, and institutional renewal.
According to the EFCC’s mid-term report released in Abuja on Thursday, part of the recovered funds — about ¦ 100 billion — was invested in the Students’ Loan Scheme and the Consumer Credit Scheme.
Appointed in October 2023, Olukoyede said the EFCC has in two years received over 19,000 petitions, investigated 29,000 cases, filed 10,525 in court, and secured 7,503 convictions. It also recovered ¦ 566.3 billion, $411.5 million, and over 1,500 real estate assets.
He said the Commission also revived dormant cases involving prominent Nigerians and prosecuted several former governors, ministers, and public officials, including ex-CBN Governor Godwin Emefiele.
Olukoyede noted that EFCC’s crackdown on currency racketeering and crypto fraud helped stabilise the naira, while a major sting operation in 2024 led to the arrest of 792 suspects, including 192 foreigners.
He said the agency has strengthened internal reforms, creating new directorates for risk assessment, innovation, and asset recovery, and dismissed 55 staff for misconduct. On international cooperation, the EFCC has deepened ties with the FBI, UK NCA, INTERPOL, and others, resulting in the recovery of assets abroad.
Olukoyede added that the Commission launched EFCC Radio 97.3 FM to promote public awareness and integrity, while rebranding efforts aim to strengthen public trust.
He reaffirmed the EFCC’s commitment to transparency and aligning its anti-corruption drive with the Renewed Hope Agenda of the Tinubu administration.
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