The Senate on Tuesday commended the Economic and Financial Crimes Commission (EFCC) for what it described as an unprecedented performance in Nigeria’s anti-corruption drive under President Bola Tinubu’s administration, citing more than 10,000 convictions and recoveries worth over N365 billion in 2024 alone.
The lawmakers attributed the success to what they called a “quiet revolution” in the agency’s operations, following what they hailed as the President’s appointment of competent professionals to lead key anti-graft institutions.
Senate President Godswill Akpabio, while leading the commendation, said the EFCC’s achievements were evidence of strong leadership and institutional focus.
He said: “When you appoint the right people into the right offices, you get the right results. What we are seeing in the EFCC today is the product of effective leadership and focused oversight.”
Akpabio urged the Commission to publish data on frivolous or politically motivated petitions, stressing that many Nigerians often mistake petitions for convictions.
“Publishing the number of petitions found to be baseless will help correct public misconceptions and enhance transparency,” he said.
The commendations followed the Senate’s consideration of a motion sponsored by Senator Udende Emmanuel (APC, Benue North East), titled “Urgent Need to Commend the EFCC for Its Significant Gains in Recent Times, Particularly in 2024.”
Leading the debate, Senator Emmanuel detailed the agency’s impressive asset and cash recoveries across multiple currencies during the year.
These include N364.6 billion; $215 million; £54,315.64; €31,275; CAD$2,990; AUD$740; CFA7.8 million; UAE Dirham 170; Saudi Riyal 5,115; 73,000 Korean won; 105 Japanese yen; 225 Ghanaian cedis; and 50 South African rand.
According to him, the EFCC also secured forfeitures of 173 vehicles, 378 electronics, 14 landed properties, one hotel, two gold Cuban chains, 784 estates, and large volumes of petroleum products.
Other forfeited assets, he added, included N9.477 billion; $2.6 million; £1,600; 13.37 Bitcoin worth about $573,000; 5.978 Ethereum valued at $13.35 million; and 298.47 Green Satoshi Tokens valued at $6.1 million.
Several senators took turns to commend the EFCC’s courage and professionalism, noting that its operations had restored both domestic and international confidence in Nigeria’s anti-corruption framework.
Akpabio noted that for every conviction secured by the EFCC, “at least ten potential crimes are deterred,” underscoring the preventive role of the agency in safeguarding national finances.
He also drew attention to the EFCC’s growing effectiveness in tackling cybercrime and cross-border financial fraud, calling for greater synergy between the Commission and the Office of the National Security Adviser to curb emerging threats from international syndicates.
During the debate, Senator Saliu Mustapha (APC, Kwara South) emphasised the importance of transparency in how the EFCC manages a small percentage of recovered assets legally retained by the agency.
“While commending the EFCC, we must also ensure that any retained funds are properly accounted for. Commendation must go hand-in-hand with oversight,” he said.
In response, Emmanuel clarified that such expenditures require presidential approval and National Assembly oversight, reaffirming that the EFCC cannot spend retained funds unilaterally.
At the end of the deliberations, the Senate unanimously adopted the motion, commending the EFCC for its professionalism, integrity, and visible achievements in the fight against financial crimes.
It also mandated relevant committees to provide stronger legislative and oversight support for the agency and other anti-corruption institutions.
Akpabio said: “The Commission’s recoveries, prosecutions, and deterrence record deserve national recognition. We must continue to strengthen it through effective laws, adequate funding, and public confidence.”
Meanwhile, the Senate on Tuesday also passed for second reading a Bill seeking to amend the Abubakar Tafawa Balewa University (ATBU) Act, to remove the restrictive term “Technology” from its name and convert it from a specialised university to a conventional one.
The bill, sponsored by Senator Shehu Umar (Bauchi South), aims to enable ATBU to expand its academic offerings beyond technology and engineering to include programmes in the humanities, law, medicine, and social sciences.
Umar said the amendment would align the institution’s legal status with its current operations, enhance equity with other federal universities, and broaden access to higher education in the North-East.
He said: “Similar transformations have occurred in other federal universities such as Modibbo Adama University, Yola, and Joseph Sarwuan Tarka University, Makurdi. This amendment is not radical, it simply recognises the evolution of the institution and honours the legacy of Sir Abubakar Tafawa Balewa.”
The bill was subsequently referred to the Senate Committee on Tertiary Institutions and TETFUND for public hearing and further legislative action within four weeks.
Sunday Aborisade
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