The Economic and Financial Crimes Commission (EFCC) says it recovered ₦1.233 trillion in 34 months under the leadership of its Executive Chairman, Ola Olukoyede.
In a statement issued on Monday, EFCC spokesperson Dele Oyewale said Olukoyede disclosed this while presenting an account of his stewardship to the media.
According to the EFCC, naira recoveries reached an all-time high of ₦1,233,612,040,411.11 between October 2023 and July 2026.
The commission also recorded recoveries of $684,478,457.32, £373,905.78 and €9,343,803.66 during the period.
Of the naira recovery, about ₦397.26 billion, representing 33 per cent, was recovered directly for the Federal Government.
The remaining ₦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 showed that “two out of every three naira recovered, were on behalf of beneficiaries other than the federal government.”
EFCC records 10,872 convictions
On prosecution, the EFCC said it 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.
The figures represent a conviction-to-filing ratio of 75.1 per cent, according to the commission.
In the first half of 2026 alone, the EFCC recorded 1,370 convictions from 1,889 filings.
“These results reflect diligence, resilience and a prosecutorial approach anchored on evidence and courtroom outcomes,” Olukoyede said.
The EFCC also said analysis of petitions and cases showed changing patterns in financial crime.
Between 2024 and 2026 year-to-date, the commission recorded 46,288 offences across nine major categories. Advance fee fraud and cybercrime accounted for nearly two-thirds of the offences.
Total recorded offences increased by 24.1 per cent between 2024 and 2025, with notable rises in procurement fraud, bank fraud, cybercrime and economic-governance offences.
“This tells us that the fight against economic and financial crime is not only about grand corruption. Every day, we are protecting citizens, businesses and institutions from fraud, cyber-enabled crime and other forms of economic exploitation,” Olukoyede said.
₦661.32bn and $492.37m released to beneficiaries
The EFCC chairman said recoveries were only meaningful when returned to the public interest and rightful beneficiaries.
During the period under review, the commission released ₦661.32 billion and $492.37 million to beneficiaries.
The naira releases included about ₦325.35 billion paid directly to individuals and corporate bodies, while ₦335.97 billion was released to various MDAs, the Nigerian Revenue Service and States’ Internal Revenue Services, among other public institutions, companies and individuals.
The commission also reported about ₦288.1 billion in federal and state tax recoveries, comprising approximately ₦173.2 billion in federal tax recoveries and ₦114.9 billion attributed to State Internal Revenue Services.
In addition, about ₦257.2 billion in naira recoveries was recorded for federal ministries, departments and agencies.
EFCC forfeits more than 10,000 assets
Beyond monetary recoveries, the commission secured the forfeiture of 10,053 tangible assets under interim and final court orders between October 2023 and July 2026.
The assets included 8,198 electronic items, 1,177 real estate assets, 370 automobiles and 251 plots of land, as well as schools, factories, hotels, shops, oil rigs, barges, machinery and aircraft.
The EFCC also recorded the forfeiture of 102 tonnes of solid minerals.
Olukoyede said proceeds from the disposal of assets under final forfeiture orders amounted to approximately ₦12.07 billion, which was paid to the Federal Government.
He also recalled the Federal Government’s directive in August 2024 for ₦50 billion each to be allocated to the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation from EFCC proceeds of crime, with a further ₦50 billion each provided for both organisations in 2026 from EFCC recoveries.
The former NOK University, which was forfeited to the Federal Government, was converted into the Federal University of Applied Sciences, Kachia, Kaduna State. Olukoyede said 1,909 students matriculated into the institution in December 2025.
He added that another high-value private university had also been forfeited to the Federal Government.
“When recovered criminal value helps finance education and household credit, enforcement moves beyond punishment to restoration and productive national use,” he said.
920 specialised enforcement cases recorded
The EFCC said its specialised enforcement portfolio covered money laundering, unlicensed bureaux de change, illegal mining, virtual assets and terrorist financing.
According to Olukoyede, the commission recorded 920 cases and 212 convictions in these areas, with a substantial number of investigations and prosecutions still active.
Money laundering and unlicensed bureaux de change cases accounted for the largest share of the portfolio, while the commission also responded to emerging risks involving virtual assets and illicit financial flows from the extractive sector.
In the foreign-exchange market, the EFCC recorded 234 BDC cases and 73 convictions over the last three years.
Olukoyede said the objective was to support a more formal and transparent retail foreign-exchange market while closing channels vulnerable to illicit finance, speculation and round-tripping.
EFCC cites reforms and digitalisation
Olukoyede also highlighted institutional reforms introduced during his tenure, including new guidelines on arrest and bail, a review of sting operations and the establishment of the Department of Fraud Risk Assessment and Control, Security Department, Immigration and Visa Section and Cybercrime Rapid Response Centre.
The commission commissioned directorates in Enugu and Ilorin, while new directorates were established in Ekiti, Anambra and Katsina states.
Policies covering gifts and hospitality, conflict of interest and exhibit-room security were also introduced.
The Internal Affairs Department was renamed and restructured as the Ethics and Integrity Department, reflecting what Olukoyede described as the commission’s commitment to internal cleansing.
The EFCC is also investing in digitalisation, with Olukoyede saying that almost 60 per cent of its processes and operations have been digitalised.
He also highlighted the new EFCC Academy, the EFCC 24/7 Cybercrime Rapid Response Centre (E-C2R2) and EFCC Radio.
The EFCC said the 34-month period had been marked by sustained enforcement, institutional reform, prosecution, asset recovery, restitution and stronger collaboration within Nigeria and internationally.
