EFCC Secures 10,872 Convictions In 34 Months, Recovers N1.23trn

The Economic and Financial Crimes Commission (EFCC) secured 10,872 convictions from 14,476 cases filed in court between October 2023 and July 2026, Chairman Ola Olukoyede has disclosed.

Olukoyede gave the figures on Monday in Abuja while reviewing his 34-month stewardship at the commission, saying the results reflected a stronger focus on evidence-based investigations and successful prosecution.

The commission received 49,673 petitions during the period and investigated 39,615 cases. According to Olukoyede, the number of convictions represented a 75.1 percent conviction-to-filing ratio.

The pace of convictions remained significant in 2026, with the EFCC recording 1,370 convictions from 1,889 cases filed in the first half of the year.

But the commission’s data also showed that the nature of financial crime in Nigeria is changing. Its analysis for 2024 to 2026 year-to-date recorded 46,288 offences across nine major categories, with advance fee fraud and cybercrime accounting for nearly two-thirds of the cases.

Olukoyede said total recorded offences increased by 24.1 percent between 2024 and 2025, with procurement fraud, bank fraud, cybercrime and economic-governance offences recording notable increases.

“The fight against economic and financial crime is not only about grand corruption. Every day, we are protecting citizens, businesses and institutions from fraud, cyber-enabled crime and other forms of economic exploitation,” he said.

The commission also reported 920 cases across specialised areas including money laundering, unlicensed bureaux de change, illegal mining, virtual assets and terrorist financing, resulting in 212 convictions.

Asset recovery formed another major part of the commission’s activities, with the EFCC reporting N1.233 trillion recovered between October 2023 and June 2026. It also recovered $684.48 million, £373,905.78 and €9.34 million, in addition to funds in other currencies.

The naira recoveries were not entirely for the Federal Government. About N397.26 billion, or 33 percent, represented direct recoveries for the Federal Government, while N836.34 billion, representing 67 percent, was recovered for MDAs, state revenue services, companies, individuals and foreign victims.

The commission said N661.32 billion and $492.37 million had been released to beneficiaries during the period, including N325.35 billion paid directly to individuals and corporate bodies.

Beyond cash, the EFCC secured forfeiture orders covering 10,053 tangible assets, including 1,177 real estate assets, 370 automobiles, 251 plots of land and 8,198 electronic items. The list also included schools, factories, hotels, shops, oil rigs, barges, machinery and aircraft.

Proceeds from the disposal of assets under final forfeiture orders generated about N12.07 billion for the Federal Government, while 102 tonnes of solid minerals were also forfeited.

Olukoyede said the commission would focus going forward on prevention, faster restitution, improved investigative technology and professionalism, stressing that enforcement must translate into measurable value for Nigerians.