The Economic and Financial Crimes Commission (EFCC) is channeling funds recovered from criminal activities into major social investment programmes across Nigeria, the agency’s Chairman, Ola Olukoyede, has revealed.
He made the disclosure during a media parley marking his second anniversary as head of the anti-graft agency.
Olukoyede stated that over the last two years, the commission recovered substantial amounts in cash, both in local and foreign currencies, including ₦566 billion, $411.5 million, £71,306, €182,877, and CAD $5,510, among others.
On non-monetary assets, a total of 1,502 properties were recovered, 402 in 2023, 975 in 2024, and 125 in 2025. Notable recoveries include 753 units of duplexes in Lokogoma, Abuja, and Nok University, now Federal University of Applied Sciences, Kachia, Kaduna State.
“Part of the funds recovered by the commission in the last two years was invested in critical social investment programmes: the Students Loan Scheme and the Consumer Credit Scheme. A total of ₦100 billion has been channelled into these two schemes”, Olukoyede said.
He added that government agencies such as the Niger Delta Development Commission (NDDC), Asset Management Corporation of Nigeria (AMCON), Federal Inland Revenue Service (FIRS), and the National Health Insurance Authority have also benefited from recovered funds, while several recovered properties have been allocated to government agencies for use as offices.
Representing the chairman, EFCC Director of Public Affairs, Wilson Uwujaren, highlighted strides in combating cybercrime. Under Olukoyede, the EFCC has stepped up enforcement, public education, and sensitisation, targeting youths to discourage involvement in cybercrime.
“The EFCC has prioritised corruption prevention as a cost-effective alternative to enforcement. This led to the establishment of FRAC, which monitors budget performance of ministries, departments, and agencies to prevent diversion of funds”, Uwujaren said.
In 2024, FRAC’s intervention ensured over 80% delivery of the Presidential CNG buses.
Olukoyede reaffirmed that the EFCC remains committed to pursuing all corruption matters, whether involving public officials or private individuals.
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