The Economic and Financial Crimes Commission (EFCC) has announced a massive haul of assets and funds, revealing that under the two-year leadership of its Executive Chairman, Mr. Ola Olukoyede, the agency recovered over N566 billion and $411 million from the proceeds of economic and financial crimes.
The disclosure was made by Olukoyede on Thursday, October 23, 2025, at the Commission’s corporate headquarters in Abuja, as part of activities marking his second anniversary in office.
Olukoyede, appointed in October 2023, stated that the period witnessed significant reforms and record-breaking achievements.
Speaking through the Director of Public Affairs, Commander of the EFCC, CE Wilson Uwujaren, the Chairman detailed the recovered assets between October 2023 and September 2025: N566,319,820,343.40, US Dollar $411,566,192.32,
British Pound 71,306.25, Euro182,877.10
Beyond the cash recoveries, the EFCC also announced the recovery of 1,502 non-monetary assets, including land and properties. Notable forfeitures include:
The final forfeiture of 753 units of duplexes in Lokogoma, Abuja.
The forfeiture of Nok University, now converted to the Federal University of Applied Sciences, Kachia, Kaduna State.
Olukoyede described these recoveries as “tangible evidence” of the Commission’s drive to confiscate and return illicit assets to the Nigerian state and fraud victims.
The anniversary address highlighted the EFCC’s operational successes:
Petitions Received: Over 19,000
Investigations Conducted: 29,240
Cases Filed in Court: 10,525
Convictions Secured: 7,503
Several high-profile persons were prosecuted during this period, including former governors Willie Obiano, Abdulfatah Ahmed, Darius Ishaku, Theodore Orji and Yahaya Bello, as well as former ministers and ex-Central Bank Governor Godwin Emefiele. The Commission also successfully revisited and revived several long-standing corruption cases, involving figures like Sambo Dasuki and Fred Ajudua.
Olukoyede stated that part of the recovered funds—a total of \text{N}100 billion—was invested in key national initiatives, including the Students Loan Scheme and the Consumer Credit Scheme. Other beneficiaries of returned funds include AMCON, NDDC, and FIRS.
In a move against online fraud, the EFCC reported the arrest of 792 suspects involved in investment and cryptocurrency fraud in Lagos in December 2024, including 192 foreigners who were prosecuted and deported.
The Chairman also listed the creation of a Task Force on Naira Abuse and Dollarisation of the Economy, which he credits with helping to reduce pressure on the Naira. Furthermore, significant internal reforms were mentioned, including:
Establishment of the Directorate of Fraud Risk Assessment and Control (FRAC) for corruption prevention.
Renaming the Department of Internal Affairs to the Department of Ethics and Integrity.
Sanctioning of errant staff, with 55 officers dismissed for misconduct.
Olukoyede reaffirmed his commitment to integrity, noting, “You cannot fight corruption with corruption.” He concluded by announcing that the Commission is undergoing a rebranding process, with a new logo and slogan soon to be unveiled to reposition the agency for more effective service delivery.
