EFCC recovers 1.23 trillion naira and secures 10,872 convictions under Olukoyede

Nigeria’s Economic and Financial Crimes Commission reported 10,872 convictions and more than 1.23 trillion naira in recoveries during Ola Olukoyede’s first 34 months as chairman.

Olukoyede presented the figures at the EFCC headquarters in Abuja. Between October 2023 and July 2026, the commission received 49,673 petitions, investigated 39,615 cases and filed 14,476 cases in court. The resulting conviction-to-filing ratio stood at 75.1%, he said, with 1,370 convictions from 1,889 filings in the first half of 2026 alone.

The commission’s reported recoveries between Oct. 1, 2023, and June 30, 2026, included 1,233,612,040,411.11 naira, $684,478,457.32, £373,905.78 and €9,343,803.66. About 397.26 billion naira, or 33% of the naira recovery, represented direct recoveries for the federal government. The remaining 836.34 billion naira was recovered for ministries, agencies, state revenue services, companies, individuals and foreign victims.

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Our approach has been anchored on properly focusing our mandate in the overall interest of Nigerians, using the anti-graft war to stimulate economic growth, strengthen the rule of law, improve transactional credibility, enhance Nigeria’s image and attract foreign direct investment.

The EFCC said it had released 661.32 billion naira and $492.37 million to beneficiaries. The naira disbursements included 325.35 billion naira paid directly to individuals and companies, and 335.97 billion naira released to public institutions, revenue services, companies and individuals.

Olukoyede said the commission was working to make restitution faster, more transparent and more efficient. He also said more than 40 EFCC employees had been dismissed for corruption and financial malpractice during his tenure, with more than five facing prosecution.

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Recovery is only meaningful when the value is ultimately returned to the public interest or rightful beneficiaries.