EFCC Recovers N853bn, Secures Over 4,000 Convictions in One Year

The Economic and Financial Crimes Commission (EFCC) has recovered N364.5 billion and $326.5 million in criminal proceeds between 2023 and 2024, the commission has disclosed.

The EFCC said the recoveries, which it described as unprecedented, were supported by close monitoring of government intervention funds, including the PL-CNG scheme, NG-CARES, NACA Global Fund, SESET, AMCON loans, and various Central Bank of Nigeria facilities, such as COVID-19 support programmes and conversion loans with 15 percent coverage.

During the period, the commission received 15,724 petitions, investigated 12,928, filed 5,081 cases in court, and secured 4,171 convictions. However, 2,348 cases remain pending.

“These results are more than statistics; they signal deterrence and restitution, demonstrating that corruption will not be tolerated,” the EFCC said. The commission added that its operations go beyond tackling internet fraud to protecting national assets and ensuring intervention funds reach their intended beneficiaries.

The EFCC emphasised that all recoveries and convictions were achieved under strict due process and judicial oversight, boosting public confidence in its operations. The commission described the accomplishments as evidence of its expanding role in safeguarding Nigeria’s financial system, reaffirming the country’s leadership in Africa’s fight against corruption amid ongoing economic challenges.