- Says Commission under his leadership has achieved record reforms and convictions
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has announced that the Commission recovered ₦566.3 billion, $411.5 million, and 1,502 properties within two years of his administration — marking what he described as an unprecedented milestone in Nigeria’s anti-corruption efforts.
Olukoyede disclosed this on Thursday, October 23, 2025, in Abuja, during a media briefing to mark his second anniversary in office. He was appointed on October 18, 2023, and confirmed by the Senate the following day.
Represented by the Director of Public Affairs, Commander CE Wilson Uwujaren, Olukoyede said the EFCC received over 19,000 petitions, conducted 29,240 investigations, filed 10,525 cases, and secured 7,503 convictions between October 2023 and September 2025.
He added that the Commission also recovered £71,306.25, €182,877.10, and other foreign currencies, alongside 1,502 non-monetary assets — including 402 properties in 2023, 975 in 2024, and 125 so far in 2025.
Among the recovered assets, he highlighted the final forfeiture of 753 duplexes in Lokogoma, Abuja, and Nok University, now renamed the Federal University of Applied Sciences, Kachia, Kaduna State.
“These recoveries are concrete evidence of the Commission’s renewed drive to trace, confiscate, and return illicit assets to the Nigerian state and victims of fraud,” he said.
High-Profile Prosecutions and Major Arrests
Olukoyede listed several high-profile cases prosecuted during his tenure, including those involving former governors Willie Obiano, Abdulfatah Ahmed, Darius Ishaku, Theodore Orji, and Yahaya Bello, as well as former ministers Olu Agunloye, Mamman Saleh, Hadi Sirika, Charles Ugwu, and ex-Central Bank Governor Godwin Emefiele.
He also revealed that in December 2024, the EFCC arrested 792 suspects for investment and cryptocurrency fraud in Lagos, including 192 foreigners, who were subsequently prosecuted and deported.
“This development sent a clear message that Nigeria will not allow its territory to become a safe haven for cybercriminals,” Olukoyede stated.
Reviving Old Cases and Supporting National Projects
The EFCC Chairman said the Commission has reopened several longstanding corruption cases, including those involving Fred Ajudua, former PDP Chairman Haliru Bello Mohammed, former NSA Sambo Dasuki, and former NSITF boss Ngozi Olojeme.
He noted that part of the recovered funds has been channelled into key government initiatives such as the Students Loan Scheme and Consumer Credit Scheme, with over ₦100 billion already invested.
Other agencies that have benefited from recovered funds include the Niger Delta Development Commission (NDDC), Asset Management Corporation of Nigeria (AMCON), Federal Inland Revenue Service (FIRS), and National Health Insurance Authority (NHIA).
Reforms, Institutional Strengthening, and Global Partnerships
Olukoyede outlined a range of institutional reforms under his leadership, including the establishment of the Directorate of Fraud Risk Assessment and Control (FRAC), designed to strengthen corruption prevention. The Department of Internal Affairs was restructured and renamed the Department of Ethics and Integrity to promote professionalism and accountability.
Three new zonal directorates were created in Ekiti, Anambra, and Katsina States, bringing the total to 17. A new EFCC Academy at Giri, Abuja — featuring a Cybercrime Research Centre — is under development.
He also announced the creation of specialized units, including the Digital Transformation and Innovation Unit, International Assets Tracing and Recovery Unit, and Visa Fraud Section.
The EFCC, he said, has strengthened collaboration with international law enforcement agencies, including the FBI, UK’s National Crime Agency (NCA), INTERPOL, German Police, and Royal Canadian Mounted Police, leading to several joint investigations and asset repatriations.
“In 2024, we hosted the immediate past FBI Director, Christopher Wray, and the NCA Director General, Graeme Biggar — a testament to the EFCC’s growing global reputation,” he said.
Regionally, Olukoyede’s leadership as President of the Network of National Anti-Corruption Institutions in West Africa (NACIWA) led to the establishment of a permanent secretariat in Abuja, with his re-election marking the first in the body’s history.
Strengthening Ethics and Accountability
Olukoyede reaffirmed his zero-tolerance stance on internal corruption, noting that all EFCC staff were directed to declare their assets upon his assumption of office. He said 55 officers have been dismissed for misconduct, with one currently facing prosecution for tampering with exhibits.
While errant staff were disciplined, he said outstanding officers were rewarded through promotions, improved allowances, and the provision of CNG-powered buses.
“You cannot fight corruption with corruption,” he stressed.
Anti-Corruption Education and Public Engagement
Olukoyede emphasized prevention as a cost-effective approach to fighting corruption, noting that the FRAC Department has monitored budget performance in ministries and ensured successful delivery of government projects such as the Presidential CNG Buses.
He also highlighted the launch of EFCC Radio 97.3 FM, Nigeria’s first anti-corruption radio station, and the establishment of a Task Force on Naira Abuse and Dollarisation of the Economy, which he said has helped stabilize the naira.
“The campaign against naira abuse and speculative currency trading has complemented the Central Bank’s efforts to strengthen the economy,” he said.
Olukoyede concluded by revealing that the Commission is currently undergoing a rebranding exercise, with a new logo and slogan to be unveiled soon.
“We are repositioning the EFCC for greater impact. Our goal is to entrench integrity, professionalism, and accountability as the cornerstone of Nigeria’s anti-corruption system,” he stated.
