The Economic and Financial Crimes Commission (EFCC) says it secured 10,872 convictions and recovered more than N1 trillion in assets and proceeds of crime between 2023 and July 2026.
The EFCC Chairman, Ola Olukoyede, disclosed this while giving an account of the commission’s achievements since October 2023.
Olukoyede said the commission received 49,673 petitions during the period, investigated 39,615 cases and filed 41,476 cases in court.
On asset recovery, the EFCC chairman said more than N1 trillion had been recovered, comprising N397 billion in direct recoveries for the Federal Government and N836 billion in indirect recoveries for state and local governments, ministries, companies and individuals.
He also disclosed that the Federal Government had approved N1 billion, with 50 per cent allocated to the Credit Corp and the remaining 50 per cent to the Nigerian Education Loan Fund (NELFUND).
According to Olukoyede, promoting a credit-based financial system would help reduce financial crimes.
He said the EFCC was also designing a fraud-risk platform for NELFUND to monitor the use of funds disbursed to beneficiaries.
The EFCC chairman added that the commission had secured the forfeiture of 10,053 assets and recovered 102 tonnes of solid minerals.
He further disclosed that 2,374 cases had been filed against Bureau de Change operators, resulting in 71 convictions.
Olukoyede also addressed concerns over the arrest of family members and associates of suspected criminals, saying the Administration of Criminal Justice Act does not permit the arrest of individuals who have no connection to alleged offences.
He said the commission was ensuring that its arrest operations complied with the law, warning that officers found violating the provisions would face appropriate disciplinary action.
The EFCC chairman further disclosed that more than 40 personnel of the commission had been dismissed for misconduct in the past three years.
