EFCC recovers N1.23trn, $684m and 1,177 real estate assets in three years
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The EFCC says it recovered N1.233 trillion and $684.48 million for governments and individuals between October 2023 and June 2026, including 1,177 real estate assets.
The Economic and Financial Crimes Commission (EFCC) says it recovered N1.233 trillion, $684.48 million and other foreign currencies for the federal and state governments, companies and individuals between October 1, 2023 and June 30, 2026.
Chairman Ola Olukoyede made the disclosure at a media briefing on his three-year stewardship of the commission. Of the naira amount, approximately N397.26 billion, or 33 per cent, represented direct recoveries for the federal government, while N836.34 billion, or 67 per cent, were indirect recoveries made on behalf of ministries, departments and agencies and other beneficiaries.
Olukoyede said the commission secured the forfeiture of 10,053 tangible assets under interim and final court orders, including 1,177 real estate assets, 8,198 electronic items, 370 automobiles and 251 plots of land, as well as schools, factories, hotels, shops, oil rigs, barges, machinery and aircraft.
He said the figures demonstrated that asset recovery was not merely about confiscating proceeds of crime but returning value to the public. The EFCC also secured 10,872 convictions during the period, with cybercrime and advance-fee fraud accounting for nearly two-thirds of major offences.
Recovered proceeds have been channelled into social investment: N50 billion each was allocated from recovered funds to the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation, while NOK University, a recovered property, was converted into the Federal University of Applied Sciences, Kachia, Kaduna State, which matriculated 1,909 students in December 2025.