EFCC Reports N1.23tn, $684m Recoveries Since 2023

The Economic and Financial Crimes Commission says it has recovered more than N1.23tn and $684m in cash and assets traced to financial crimes since October 2023.

The figures were given by EFCC Chairman Ola Olukoyede during a briefing with media executives and journalists in Abuja on Monday. The agency also reported recoveries of £373,905.78 and €9.34m, alongside assets secured through court orders.

The briefing covered the period from October 1, 2023, to June 30, 2026, though one report framed the agency’s stewardship as 34 months and another as 33 months. Both accounts point to the same recovery window and the same broad figures.

Olukoyede said about N397.26bn, roughly 33 per cent of the naira recovery, went directly to the Federal Government. He put indirect recoveries made on behalf of ministries and other government bodies at about N836.34bn.

The EFCC also said N661.32bn and $492.37m had been released to beneficiaries during the period. The naira releases included payments to individuals, companies, ministries, departments, agencies, revenue services, states and other public institutions.

Beyond cash, the commission reported forfeiture orders covering 10,053 tangible assets between October 2023 and July 2026. Those assets included electronic items, real estate, vehicles, plots of land, schools, factories, hotels, shops, oil assets, machinery, aircraft and 102 tonnes of solid minerals.

The figures will likely feed public scrutiny over how recovered assets are traced, held, returned and audited. They also put fresh attention on the EFCC’s handling of high-value financial crime cases at a time when Nigerians are demanding clearer accountability for public funds.

Sources: Vanguard and Daily Trust.