The Economic and Financial Crimes Commission (EFCC) says it has recorded a historic ₦1.233 trillion in asset recoveries during the 34 months of Ola Olukoyede’s leadership, marking what the Commission described as its highest recovery record in both local and foreign currencies.
Olukoyede disclosed the figures on Monday, August 31, 2026, while presenting an account of his stewardship as Executive Chairman of the anti-graft agency.
According to available records, the Commission recovered ₦1,233,612,040,411.11 during the period under review, alongside $684.48 million, £373,905.78 and €9.34 million in other currencies.
Of the total naira recoveries, about ₦397.26 billion, representing 33 per cent, was recovered directly 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.
Olukoyede said the figures demonstrated that two out of every three naira recovered by the Commission were returned to beneficiaries other than the Federal Government.
On prosecution, the EFCC chairman said the Commission received 49,673 petitions, investigated 39,615 cases, filed 14,476 cases in court and secured 10,872 convictions between October 2023 and July 2026, representing a conviction-to-filing ratio of 75.1 per cent.
He added that the Commission secured 1,370 convictions from 1,889 cases filed in the first half of 2026 alone.
Olukoyede also pointed to changing trends in Nigeria’s financial crime landscape, noting that the Commission recorded 46,288 offences across nine major categories between 2024 and 2026.
Advance-fee fraud and cybercrime accounted for nearly two-thirds of the offences, while total recorded crimes increased by 24.1 per cent between 2024 and 2025, driven largely by increases in procurement fraud, bank fraud, cybercrime and economic-governance offences.
The EFCC chairman said the Commission had continued to pursue complex and high-profile cases involving former governors, ministers, public officials, heads of agencies, financial-sector operators and corporate executives.
He said specialised enforcement efforts in money laundering, unlicensed bureaux de change, illegal mining, virtual assets and terrorist financing produced 920 cases and 212 convictions, with numerous investigations and prosecutions still ongoing.
Olukoyede further disclosed that ₦661.32 billion and $492.37 million recovered by the Commission were released to beneficiaries during the period.
He said the releases included approximately ₦325.35 billion paid directly to individuals and corporate bodies, while ₦335.97 billion was released to MDAs, revenue agencies, states and other public institutions.
The Commission also recovered about ₦288.1 billion in federal and state tax obligations, including ₦173.2 billion for the Federal Government and ₦114.9 billion for state internal revenue services.
According to Olukoyede, another ₦257.2 billion was recovered for federal ministries, departments and agencies, strengthening the government’s revenue capacity through enforcement of existing obligations.
He said the social impact of asset recovery was evident in the Federal Government’s decision to allocate ₦50 billion each from proceeds of crime to the Nigerian Education Loan Fund and the Nigerian Consumer Credit Corporation in 2024, with further allocations of ₦50 billion each planned for the two institutions in 2026.
Olukoyede also highlighted the conversion of the forfeited NOK University into the Federal University of Applied Sciences, Kachia, Kaduna State, where 1,909 students matriculated in December 2025.
Beyond cash recoveries, the EFCC secured the forfeiture of 10,053 tangible assets between October 2023 and July 2026, including 8,198 electronic items, 1,177 real-estate assets, 370 vehicles, 251 plots of land and other assets such as schools, factories, hotels, oil rigs, barges and machinery.
The Commission also recorded the forfeiture of 102 tonnes of solid minerals, while proceeds from assets disposed of under final forfeiture orders amounted to approximately ₦12.07 billion, which was paid to the Federal Government.
Olukoyede said the Commission’s enforcement activities also contributed to efforts to strengthen Nigeria’s anti-money laundering and counter-terrorist financing framework, which formed part of the country’s broader push that led to its removal from the Financial Action Task Force Grey List in October 2025.
He further disclosed that the EFCC recorded 234 cases involving unlicensed bureaux de change and secured 73 convictions within the last three years as part of efforts to support a more transparent and compliant foreign-exchange market.
On institutional reforms, Olukoyede said the Commission introduced new guidelines on arrest and bail, reviewed sting operations and established several specialised units, including the Department of Fraud Risk Assessment and Control, Security Department, Immigration and Visa Section and Cybercrime Rapid Response Centre.
The Commission also commissioned new directorates in Enugu and Ilorin and established additional offices in Ekiti, Anambra and Katsina states to improve public access to its services.
According to him, the EFCC has also strengthened its internal integrity framework through policies on gifts and hospitality, conflict of interest and exhibit-room security, while restructuring its Internal Affairs Department into the Ethics and Integrity Department.
Olukoyede said the Commission was making significant investments in technology, with nearly 60 per cent of its processes and operations now digitalised.
He said the past 34 months had been characterised by sustained enforcement, institutional reforms, asset recovery, prosecution, restitution and strengthened collaboration, both within Nigeria and internationally.
