EFCC Recovers 1.2 Trillion Naira, $684 Million and More Than 1,000 Properties in Three Years

Nigeria’s Economic and Financial Crimes Commission says it recovered more than 1.2 trillion naira and hundreds of millions of dollars during the past three years, while securing thousands of convictions and the forfeiture of more than 10,000 tangible assets.

EFCC Chairman Ola Olukoyede announced the figures at a media briefing on his three years leading the commission. He said the recoveries between October 1, 2023, and June 30, 2026, included 1.233 trillion naira, $684.48 million, £373,905.78 and €9.34 million, as well as funds in other currencies.

The commission said about 397.26 billion naira, or 33% of the naira recovery, represented direct recoveries for the federal government. The remaining 836.34 billion naira came from recoveries made for ministries, departments and agencies, state revenue services, companies, individuals and foreign victims. “Two out of every three naira recovered, were on behalf of beneficiaries other than the Federal Government,” Olukoyede said.

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Two out of every three naira recovered, were on behalf of beneficiaries other than the Federal Government.

The EFCC chairman said 661.32 billion naira and $492.37 million had been released to beneficiaries. The naira disbursements included about 325.35 billion naira paid directly to individuals and companies, and 335.97 billion naira allocated to government ministries and agencies, the Nigerian Revenue Service, state revenue services and other beneficiaries.

Olukoyede also pointed to the use of recovered proceeds for social investment. In August 2024, the federal government directed that 50 billion naira each go to the Nigerian Education Loan Fund and the Nigerian Consumer Credit Corporation. A further 50 billion naira allocation for each program was approved in 2026. The commission said it also secured interim and final court orders covering 10,053 forfeited assets between October 2023 and July 2026.

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The national impact of recovery is perhaps clearest when proceeds of crime are converted into productive social investment.