How we recovered N1.23tn, $684m in 33 months – EFCC Chair

In a span of 33 months, from October 2023 to June 2026, the Economic and Financial Crimes Commission (EFCC) Chairman, Ola Olukoyede, reported that the agency successfully recovered a substantial sum of N1.23tn, which is equivalent to $684.48m, £373,905.78, and €9.34m. Olukoyede emphasized that asset recovery is a crucial aspect of the commission's responsibilities, speaking to media executives and journalists in Abuja.

Throughout this period, the EFCC recovered proceeds and assets linked to financial crimes, with a significant portion of the recovered Naira being returned to government ministries. The Chairman disclosed that N397.26bn, or approximately 33 percent of the total recovery, was directly retrieved for the Federal Government, while the remaining N836.34bn, representing 67 percent of the total, was recovered on behalf of various ministries.

Of the recovered funds, about N661.32bn and US$492.37m were released to rightful beneficiaries. Additionally, the EFCC secured the seizure of 10,053 tangible assets under interim and final court orders during the same period, including electronic items, real estate assets, automobiles, plots of land, schools, factories, hotels, shops, oil rigs, barges, machinery, aircraft, and solid minerals.

Olukoyede reiterated that the EFCC's efforts are aimed at protecting public resources and combating economic and financial crimes, with asset recovery remaining a key component of the agency's mandate.