…As Senate commends EFCC for recovering ₦364bn, $214m, securing 4,111 convictions in 2024
By Henry Umoru, Abuja
President of the Senate, Senator Godswill Akpabio, has called on the Economic and Financial Crimes Commission (EFCC) to make public all high-profile petitions it has investigated and found to be frivolous.
Akpabio said such transparency would help dispel the widespread belief among Nigerians that every petition against public officials, especially politicians, automatically implies guilt or wrongdoing.
The Senate President made the call yesterday during deliberations on a motion titled “Urgent Need to Commend the Economic and Financial Crimes Commission (EFCC) for its Significant Gains Made in Recent Times, Particularly in 2024 Despite the Challenges It Has Encountered.” The motion was sponsored by Senator Emmanuel Udende (APC, Benue North East).
Akpabio, who described the EFCC’s current performance as “a revolution,” attributed the transformation at the anti-graft agency to the leadership of its Chairman, Olanipekun Olukoyede, and commended President Bola Tinubu for appointing “the right person for the job.”
“What we have now is a revolution in the EFCC,” Akpabio said. “They should publish reports of all petitions investigated, especially politically motivated ones found to be frivolous, because Nigerians always assume petitions mean conviction or crime — particularly for politicians.”
He added that the EFCC’s role was not limited to prosecution but also to deterrence, stressing that, “For every conviction recorded, at least ten other crimes are likely prevented.”
Akpabio also clarified that the EFCC cannot retain any percentage of recovered funds without Senate approval, as required by law. He directed relevant committees to verify whether such requests had been made by the President.
The Senate, during plenary, commended the EFCC for its remarkable performance in 2024, citing record recoveries and convictions despite operational challenges.
According to available data, the EFCC recovered ₦364,597,370,151.35; $214,513,439.55; €54,318.64; £31,265; CAD $2,990; AUD $740; CFA 7,821,375; UAE Dirham 170; Riyal 5,115; W 73,000; Yen 105; Ghanaian Cedi 225; and Rand 50 during the year.
The Commission also secured 4,111 convictions — the highest in its history — after investigating 12,928 out of 15,724 petitions received and filing 5,081 cases in court.
Senator Udende, while presenting the motion, said the EFCC’s performance under the current administration had significantly boosted Nigeria’s image globally and strengthened confidence in its anti-corruption framework.
“Despite limited resources and growing complexity in financial crimes, the EFCC has shown resilience and professionalism,” Udende said. “Its achievements in 2024 represent the highest operational success since its establishment in 2003.”
He also listed assets recovered during the year to include 173 automobiles, 378 electronic items, one hotel, two gold Cuban chains, 14 lands, 784 estates, and unspecified quantities of petroleum products, alongside cryptocurrency assets worth hundreds of thousands of dollars.
In his contribution, Senator Peter Onyekachi Nwebonyi (APC, Ebonyi North) described the EFCC’s transformation as “a revolution,” saying this was the first time the agency was delivering results “without media trials.”
“They have recovered over ₦500 billion in 2024 alone. This is commendable,” Nwebonyi said.
Senator Saliu Mustapha (APC, Kwara Central) raised concerns about the EFCC’s retention of a statutory percentage of recoveries, urging greater oversight by the National Assembly.
“The EFCC is entitled to a percentage under the law, but has this chamber ever received a request or communication on this? We must ensure proper oversight,” he said.
Senate Leader Opeyemi Bamidele (APC, Ekiti Central) moved an additional motion commending President Tinubu for his “strategic leadership” and “consistent support” for the EFCC through the appointment of competent leadership and adequate funding.
“The President deserves credit for ensuring the EFCC is properly funded and empowered,” Bamidele said. “His leadership has directly led to more recoveries, deterrence, and convictions, marking a bold step in Nigeria’s anti-corruption war.”
The Senate thereafter resolved to continue providing legislative and oversight support to the EFCC and other anti-corruption agencies to strengthen their operations in the national interest.
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