The Economic and Financial Crimes Commission has recorded major gains in the last 34 months, with over N1.23 trillion and $684.48 million recovered.
EFCC Chairman, Ola Olukoyede, disclosed this in Abuja on Monday while presenting his report.
He said the Commission also secured 10,872 convictions during the period.
According to him, the achievements followed sustained enforcement, institutional reforms, prosecution, and increased partnership with law enforcement agencies at home and abroad.
According to him, between October 2023 and July 2026, the EFCC received 49,673 petitions, investigated 39,615 cases and filed 14,476 cases in court, securing 10,872 convictions.
He said the figures represented a conviction-to-filing ratio of 75.1 per cent, adding that the Commission alone recorded 1,370 convictions from 1,889 court filings in the first half of 2026.
“These results reflect diligence, resilience and a prosecutorial approach anchored on evidence and courtroom outcomes,” he said.
He noted that the Commission’s analysis of cases between 2024 and 2026 showed 46,288 offences across nine major categories, with advance-fee fraud and cybercrime accounting for nearly two-thirds of the recorded offences.
He, however, said the increase in financial crimes underscored the need for sustained enforcement, noting that recorded offences rose by 24.1 per cent between 2024 and 2025, particularly in procurement fraud, bank fraud, cybercrime and economic-governance offences.
He said the Commission had also continued to pursue high-profile cases involving former governors, ministers, public office holders, heads of government agencies, financial-sector operators and corporate executives.
He mentioned the recent convictions of former Minister of Power, Saleh Mamman, former NEXIM Bank Managing Director, Robert Orya, and former Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Chukwunyere Nwabuoku, among others.
H3 reiterated that the EFCC would continue to enforce the law without discrimination, stressing that no office or title should place anyone beyond the reach of the law.
Speaking on specialised enforcement, he said the Commission handled 920 cases involving money laundering, unlicensed bureaux de change, illegal mining, virtual assets and terrorist financing, securing 212 convictions.
He said the EFCC was also responding to emerging threats associated with virtual assets and illicit financial flows from the extractive sector.
Giving a breakdown of asset recovery, Olukoyede said the Commission recovered N1,233,612,040,411.11, $684,478,457.32, £373,905.78 and €9,343,803.66 between October 1, 2023 and June 30, 2026.
He explained that approximately N397.26 billion, representing 33 per cent of the naira recoveries, constituted direct recoveries for the Federal Government, while N836.34 billion, or 67 per cent, represented indirect recoveries made on behalf of ministries, departments and agencies, state revenue services, companies, individuals and foreign victims.
According to him, two out of every three naira recovered by the Commission during the period were recovered on behalf of beneficiaries other than the Federal Government.
He added that N661.32 billion and $492.37 million had subsequently been released to beneficiaries.
The EFCC chairman said the naira releases included about N325.35 billion paid directly to individuals and corporate bodies, while N335.97 billion was released to government ministries, departments and agencies, Nigerian revenue authorities, state internal revenue services and other public institutions, companies and individuals.
Olukoyede said the Commission was working to make the restitution process faster, more transparent and efficient.
He also disclosed that federal and state tax recoveries amounted to approximately N288.1 billion during the period under review.
This, he said, comprised about N173.2 billion in federal tax recoveries and N114.9 billion attributed to state internal revenue services.
He stressed that the funds represented revenue recovered through enforcement of existing obligations rather than the imposition of new taxes.
The EFCC also recorded approximately N257.2 billion in naira recoveries for federal ministries, departments and agencies, he added.
Olukoyede said the impact of recovered assets was particularly significant when criminal proceeds were redirected towards productive social investments.
He recalled that the Federal Government, in August 2024, directed the allocation of N50 billion each from EFCC recoveries to the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation.
He said additional N50 billion allocations to each of the two institutions were subsequently approved in 2026.
According to him, the conversion of recovered assets into productive use demonstrates that anti-corruption enforcement can go beyond punishment to support education, household credit and economic development.
He also disclosed that the recovered NOK University had been converted into the Federal University of Applied Sciences, Kachia, Kaduna State, with 1,909 students matriculating in December 2025.
Olukoyede said the Commission secured the forfeiture of 10,053 tangible assets under interim and final court orders between October 2023 and July 2026.
The assets included 8,198 electronic items, 1,177 real estate properties, 370 automobiles and 251 plots of land, as well as schools, factories, hotels, shops, oil rigs, barges, machinery and aircraft.
He added that the Commission also recorded the forfeiture of 102 tonnes of solid minerals.
According to him, proceeds from the disposal of assets under final forfeiture orders amounted to approximately N12.07 billion, which was paid to the Federal Government.
The EFCC chairman said the Commission’s sustained enforcement activities contributed to the broader national effort that resulted in Nigeria’s removal from the Financial Action Task Force (FATF) Grey List in October 2025.
He said the Commission’s work in money laundering, terrorist financing, asset freezing and confiscation, virtual assets and other high-risk sectors formed part of efforts to strengthen Nigeria’s anti-money laundering and counter-financing of terrorism framework.
On the foreign exchange market, Olukoyede disclosed that the EFCC recorded 234 cases involving unlicensed bureaux de change and secured 73 convictions within the three-year period.
He said the enforcement was aimed at supporting a more formal and transparent retail foreign-exchange market while closing channels vulnerable to illicit finance, speculation and round-tripping.
Olukoyede attributed some of the Commission’s achievements to increased collaboration with domestic and international partners.
He said the EFCC worked closely with law-enforcement agencies, regulators, the judiciary, ministries, departments and agencies and state revenue authorities within Nigeria.
On international front, he listed the Federal Bureau of Investigation (FBI), United Kingdom’s National Crime Agency, Royal Canadian Mounted Police, INTERPOL and other law-enforcement agencies among the Commission’s partners.
He also disclosed that he had been re-elected President of the Network of National Anti-Corruption Institutions in West Africa (NACIWA) for another three-year term.
He said NACIWA had become an important platform for regional dialogue on asset recovery, financial crime enforcement and institutional strengthening.
On institutional reforms, Olukoyede said the Commission had introduced new guidelines on arrest and bail, reviewed its sting operations and established the Department of Fraud Risk Assessment and Control, Security Department, Immigration and Visa Section and Cybercrime Rapid Response Centre.
He said the EFCC had also commissioned its Enugu and Ilorin Directorates and established new directorates in Ekiti, Anambra and Katsina states to improve access to the Commission.
According to him, the Commission also introduced policies on gifts and hospitality, conflict of interest and exhibit-room security.
He said the Internal Affairs Department had been renamed and restructured as the Ethics and Integrity Department as part of efforts to strengthen internal accountability.
Olukoyede said the EFCC was equally investing heavily in digitalisation, with almost 60 per cent of its processes and operations now digitalised.
He listed the new EFCC Academy, the EFCC 24/7 Cybercrime Rapid Response Centre and EFCC Radio among the Commission’s ongoing innovation and institutional development initiatives.
The EFCC chairman said the Commission’s mission was no longer limited to arrests and recoveries but was focused on converting intelligence into prevention, petitions into investigations, investigations into prosecutions, prosecutions into convictions and recoveries into restitution.
“As we look ahead, our priorities are clear: deepen prevention, ensure faster restitution, invest in better investigative technology and improved professionalism in our engagement with citizens,” he said.