EFCC Recovers N1.23 Trillion Under Ola Olukoyede
Ola Olukoyede, appointed Executive Chairman of the Economic and Financial Crimes Commission (EFCC) by President Bola Ahmed Tinubu on October 12, 2023, reported the agency's recovery of N1.23 trillion and $684.48 million in proceeds of crime between October 2023 and July 2026. Of the total recoveries, N397.26 billion was directly for the Federal Government, while N836.35 billion was allocated to individuals, companies, and other beneficiaries.
The report, covering 34 months of Olukoyede's leadership, indicated that the EFCC received 49,673 petitions, investigating 39,615, resulting in 14,476 court cases and 10,872 convictions. The EFCC's recovery figures showed a significant increase from the October 2025 report, which noted N566 billion and $411 million in assets recovered.
The commission recorded its highest annual naira recovery in 2025, totaling N521.3 billion. In the first half of 2026, the EFCC recovered $123.7 million, with advance-fee fraud and cybercrime constituting over 62% of the recorded offences.
Plus234Feed summary based on reporting from Blueprint. Read the original report below.
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