So Far, So Hopeful: Nigeria’s anti-graft agency wins praise for record recoveries

Nigeria’s Economic and Financial Crimes Commission has been receiving unusual praise in the country’s media, writes Frank Tietie, who says even persistent critics of President Bola Tinubu and opposition figures have struggled to dismiss its recent record.

Under Chairman Ola Olukayode, the EFCC recovered ₦1.23 trillion, $684.48 million and substantial sums in other foreign currencies between October 2023 and June 2026, according to the article. It also secured forfeiture orders covering more than 10,000 assets. These included 1,177 properties, 251 plots of land, 370 vehicles, petroleum products, industrial equipment, company shares and digital assets.

The article highlights a 753-unit housing estate in Abuja among the most notable recoveries. It presents those results against a grim picture of corruption, advance-fee fraud and kidnapping for ransom, arguing that the recoveries carry particular weight in an environment where public funds have been extensively looted.

Tietie places special emphasis on how the recovered assets have been used. The government transferred ₦50 billion to the Nigerian Education Loan Fund and another ₦50 billion to the Nigerian Consumer Credit Corporation. The Abuja estate went to the Federal Ministry of Housing for assessment, completion and eventual allocation or sale to citizens.

Other recovered funds have been returned to government agencies, tax authorities, public institutions, companies and victims of financial crimes. Money recovered from oil companies as unpaid statutory levies has been returned or earmarked for the Niger Delta Development Commission, while funds recovered from fraudsters have gone back to Nigerian and foreign victims.