The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has disclosed that the anti-graft agency released N661.32 billion and $492.37 million to beneficiaries in 34 months following recoveries. The post EFCC released N661.32 billion and $492.4 million to beneficiaries in 34 months — Olukoyede appeared first on Nairametrics .
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has disclosed that the anti-graft agency released N661.32 billion and $492.37 million to beneficiaries in 34 months following recoveries.
The disclosure was made on Monday, August 31, 2026, according to a statement by the EFCC.
The records were released to update the public on Ola Olukoyede’s stewardship.
Available records, according to the Commission, showed that naira recoveries hit an all-time high of N1,233,612,040,411.11.
“
In dollars, it hit $684,478,457.32 (Six Hundred and Eighty-Four Million, Four Hundred and Seventy-Eight Thousand, Four Hundred and Fifty-Seven Dollars, Thirty-Two Cents).
“In Pound Sterling, the recovery hit £373,905.78, while it rose to €9,343,803.66,
” the statement partly reads.
The EFCC boss noted that recovery is only truly meaningful when value is returned to the public interest and to the rightful beneficiaries.
Olukoyede stated that during the period under review, “
N661.32 billion and US$492.37 million were released to beneficiaries.”
The naira releases, according to him, included about N325.35 billion paid directly to individuals and corporate bodies, while N335.97 billion was released to various MDAs, the Nigeria Revenue Service and States’ Internal Revenue Services, including releases to other public institutions, companies and individuals.
“Out of the naira recovery, approximately N397.26 billion, representing 33 percent, was direct recovery for the Federal Government, while N836.34 billion, representing 67 percent, were recoveries made by the Commission on behalf of ministries, departments and agencies, state revenue services, companies, individuals and foreign victims,”
the statement partly reads.
Regarding prosecution during the period, the EFCC chairman disclosed that “the Commission received 49,673 petitions, investigated 39,615 cases, filed 14,476 cases in court and secured 10,872 convictions between October 2023 and July 2026.”
Olukoyede further revealed that data from petitions and case analysis provides an indication of the shifting trends in the financial crime threat landscape.
He stated that the Commission’s 2024 to 2026 year-to-date category data recorded 46,288 offences across nine major typologies.
He added that while advance-fee fraud and cybercrime together represented nearly two-thirds of recorded offences, there were also notable increases in procurement fraud, bank fraud, cybercrime and economic-governance offences.
He also disclosed that there was a significant revenue-mobilisation dimension to the Commission’s work.
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Federal and state tax recoveries amounted to approximately N288.1 billion over the period, including about N173.2 billion in federal tax recoveries and N114.9 billion attributed to States’ Internal Revenue Services, being fiscal value recovered through enforcement of existing obligations, and not through the imposition of new taxes.
“He added that approximately N257.2 billion in naira recoveries were recorded for federal ministries, departments and agencies, demonstrating how anti-corruption enforcement can reinforce the revenue capacity of the government,
” he said.
In October 2025, the EFCC’s annual performance report showed that in one year alone, the agency recovered N364.5 billion and $326.5 million, alongside other foreign currencies and assets, while also securing 4,111 convictions across various courts.
These figures were released in the EFCC’s official performance report and through its public statements for that year.
According to the EFCC, 2025 saw a significant increase in public engagement, with 15,724 petitions submitted to the Commission in the same year.
The EFCC is one of Nigeria’s frontline anti-graft agencies.
Additionally, the Chief Justice of Nigeria, Justice Kudirat Motonmori Kekere-Ekun, revealed on September 30, 2024, that a total of 2,398 financial crime convictions were recorded in the judiciary between January 2, 2024, and August 2, 2024, by anti-graft agencies.
She attributed the achievement to the expertise of the EFCC and other relevant stakeholders.
