The Economic and Financial Crimes Commission (EFCC) has announced the recovery of N566 billion, $411 million, and 1,502 properties linked to proceeds of financial and economic crimes over the past two years.
Ola Olukoyede, EFCC chairman, made the disclosure on Thursday during a press briefing at the Commission’s headquarters in Abuja as part of activities marking his second anniversary in office.
The update was also shared via the EFCC’s official X handle.
According to him, between October 2023 and September 2025, the Commission received over 19,000 petitions, conducted 29,240 investigations, filed 10,525 cases in court, and secured 7,503 convictions.
During the same period, the EFCC also recovered £71,306.25, €182,877.10, and other foreign currencies.
“The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede has disclosed that under his leadership, the Commission has made unprecedented progress in the fight against economic and financial crimes in the last two years by recovering over N566 billion alongside other currencies and assets,” the statement read in part.
It added, “He disclosed that within the same period, the Commission recovered N566,319,820,343.40, $411,566,192.32, £71,306.25, €182,877.10, and other foreign currencies from proceeds of financial and economic crimes.”
The EFCC further stated that out of the 1,502 non-monetary assets recovered within the review period, 402 were seized in 2023, 975 in 2024, and 125 so far in 2025.
The recovered assets include 753 duplexes in Lokogoma, Abuja, and Nok University in Kaduna State, which has since been renamed the Federal University of Applied Sciences, Kachia.
According to the EFCC, part of the recovered funds has been channelled into national programmes such as the Students Loan Scheme and the Consumer Credit Scheme, with N100 billion reportedly invested in both.
The agency also noted that institutions including the Niger Delta Development Commission (NDDC), Asset Management Corporation of Nigeria (AMCON), Federal Inland Revenue Service (FIRS), and National Health Insurance Authority (NHIA) have benefited from returned funds.
It cited several ongoing and concluded prosecutions involving former public officials such as ex-governors Willie Obiano, Abdulfatah Ahmed, Darius Ishaku, Theodore Orji, and Yahaya Bello.
Others named include former ministers Olu Agunloye, Mamman Saleh, Hadi Sirika, Charles Ugwu, and former Central Bank Governor Godwin Emefiele.
The statement further revealed that in December 2024, 792 suspects linked to investment and cryptocurrency-related fraud were arrested in Lagos, including 192 foreigners who were later prosecuted and deported.
It also disclosed that the Commission has reopened several longstanding corruption cases and established a Task Force on Naira Abuse and Dollarisation of the Economy, aimed at curbing illicit currency practices nationwide.
Olukoyede, who also warned that “fraudulent Nigerian politicians are now hiding their loot in cryptocurrencies,” reaffirmed the Commission’s commitment to intensifying its crackdown on digital and traditional financial crimes alike.