From Crime Proceeds to Classrooms: EFCC says recovered universities now serving public interest

The Economic and Financial Crimes Commission (EFCC) has reported that assets recovered from proceeds of crime are being repurposed to serve the public good. One example highlighted involves a private university in Kaduna State which has been converted into a federal university. On Friday, EFCC Chairman Ola Olukoyede shared the developments on his official X account, explaining that converting these assets benefits the community beyond traditional punitive measures.

The former NOK University in Kachia, Kaduna was seized and subsequently transformed into the Federal University of Applied Sciences. In December 2025, 1,909 students enrolled at the newly established federal university, benefiting young people who would not normally have access to higher education. Olukoyede also revealed that a high-value university in Kebbi State, described as an exceptionally large institution with a grand residence for the vice-chancellor, has been seized and transferred to the federal government.

Despite not naming the Kebbi university in his post, the description aligns with Rayhaan University, which the EFCC secured the forfeiture of on July 15, 2026. The Chairman emphasized that the conversion of these institutions to serve the public aligns with the EFCC's broader strategy of redirecting recovered assets towards productive use, strengthening public revenue, and deterring future criminal activity.

In a recent performance report, the EFCC disclosed that it recovered ₦1.233 trillion and secured 10,872 convictions between October 2023 and July 2026, showcasing the impact of these enforcement measures.