EFCC’s N1.23tn Sweep: 10,872 Convictions, Billions in Foreign Currency Recovered

• Nigeria’s Economic and Financial Crimes Commission (EFCC) says it secured 10,872 convictions and recovered more than ₦1.23 trillion in proceeds of crime during the first 34 months of Chairman Ola Olukoyede’s tenure.

 Presenting his stewardship report in Abuja, Olukoyede said the commission received 49,673 petitions, investigated 39,615 cases and filed 14,476 cases in court between October 2023 and July 2026. The resulting 10,872 convictions represented a reported 75.1 percent conviction-to-filing ratio.

 The EFCC reported naira recoveries of ₦1,233,612,040,411.11, alongside $684.48 million, £373,905.78 and €9.34 million. The commission said the naira figure comprised both direct recoveries for the Federal Government and recoveries made on behalf of government agencies, companies, individuals and foreign victims.

 Olukoyede said approximately ₦661.32 billion and $492.37 million had been released to beneficiaries during the period. He also reported the forfeiture of 10,053 tangible assets, including real estate, vehicles, electronics, land and other properties. Proceeds from the disposal of assets under final forfeiture orders amounted to about ₦12.07 billion, according to the EFCC chairman.

 The commission also recorded 1,370 convictions from 1,889 filings during the first half of 2026 alone, while enforcement extended to money laundering, unlicensed bureaux de change, cybercrime, virtual assets, illegal mining and terrorist financing.

 Olukoyede said the figures demonstrated the EFCC’s emphasis on turning investigations and prosecutions into recoveries and restitution, while stressing that recovered funds should ultimately benefit rightful beneficiaries and the public interest.