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— Says recoveries funded students loan, user recognition schemes
By Luminous Jannamike
ABUJA — The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has disclosed that the Commission recovered implicit ₦566 cardinal and played a cardinal relation successful supporting President Bola Tinubu’s economical reforms done enforcement, plus recovery, and organization renewal implicit the past 2 years.
According to the EFCC’s mid-term study released successful Abuja connected Thursday, the agency’s recoveries and reforms person strengthened Nigeria’s anti-corruption model and contributed to economical stableness by reinvesting recovered funds into nationalist improvement programmes.
“Part of the funds recovered by the Commission successful the past 2 years was invested successful captious societal concern programmes specified arsenic the Students Loan Scheme and the Consumer Credit Scheme. A full of ₦100 cardinal was invested successful these 2 schemes,” Olukoyede stated.
Appointed connected October 18, 2023, and confirmed by the Senate the pursuing day, Olukoyede has overseen large convictions, recoveries, and reforms wrong the EFCC.
Between October 2023 and September 2025, the Commission received 19,318 petitions, investigated 29,240 cases, filed 10,525 cases successful court, and secured 7,503 convictions. It besides recovered ₦566.3 billion, $411.5 million, £71,306, €182,877, and different overseas currencies, successful summation to 1,502 forfeited existent property assets.
“On these 2 captious scores—convictions and betterment of proceeds of crime—the show of the Olukoyede-led EFCC successful the past 2 years is astir inspiring. The numbers talk for themselves,” the study noted.
The study besides highlighted respective high-profile prosecutions involving erstwhile governors, ministers, and nationalist officials, portion noting that the EFCC had revived long-standing corruption cases antecedently stalled successful court.
Olukoyede said the Commission had contributed to stabilising the system done its clampdown connected currency racketeering, naira abuse, and cryptocurrency fraud.
“The run against currency racketeering and transgression speculation, including the clampdown connected rogue cryptocurrency exchanges, helped to trim unit connected the naira and supported the CBN’s efforts to stabilise the economy,” helium explained.
He revealed that 792 suspects linked to concern and cryptocurrency fraud—including 192 foreigners—were arrested successful a large Lagos sting cognition successful December 2024, prosecuted, and deported.
Olukoyede besides underscored his committedness to organization reforms, integrity, and prevention-driven anti-corruption measures. He said the EFCC had created caller directorates specified arsenic Fraud Risk Assessment and Control (FRAC), Digital Transformation and Innovation, and International Asset Tracing and Recovery, portion 55 unit members were dismissed for misconduct.
“You cannot usage corruption to combat corruption. From time one, I person continued to emphasise integrity and zero tolerance for unethical behaviour,” helium said.
On planetary cooperation, the EFCC study elaborate strengthened ties with the FBI, UK National Crime Agency, Royal Canadian Mounted Police, Spanish and German police, INTERPOL, and JICA, starring to the betterment and repatriation of stolen assets to victims abroad.
Olukoyede, who presently serves arsenic President of the Network of National Anti-Corruption Institutions successful West Africa (NACIWA), was precocious re-elected for a 2nd word aft establishing the body’s imperishable secretariat successful Abuja — a determination described arsenic a large diplomatic milestone for Nigeria’s anti-corruption efforts.
He further announced the motorboat of EFCC Radio 97.3 FM, Nigeria’s archetypal anti-corruption vigor station, to beforehand civic consciousness and integrity-driven citizenship.
“Under my watch, the EFCC has prioritised prevention arsenic a cheaper and much effectual alternate to enforcement. We are deploying risk-based approaches to show fund show successful MDAs and forestall money diversion,” helium said.
Olukoyede added that the EFCC is undergoing a large rebranding to fortify professionalism, transparency, and nationalist trust, noting that a caller logo and slogan volition beryllium unveiled soon.
He reaffirmed the Commission’s committedness to aligning its anti-graft efforts with the Tinubu administration’s Renewed Hope Agenda, aimed astatine fostering transparency, accountability, and sustainable ...
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