THE Economic and Financial Crimes Commission (EFCC) says it secured convictions in roughly three out of every four cases it filed in court during the 34 months of its chairman, Ola Olukoyede’s, tenure, while recovering more than ₦1.23 trillion.
The commission filed 14,476 cases and secured 10,872 convictions between October 2023 and July 2026, giving it a conviction-to-filing ratio of 75.1 per cent, according to figures released by Olukoyede on Monday, August 31, during his stewardship presentation.
In the first half of 2026 alone, the EFCC said it secured 1,370 convictions from 1,889 cases filed. These results reflect diligence, resilience and a prosecutorial approach anchored on evidence and courtroom outcomes,” Olukayode said.
The figures came from a much larger pool of cases handled by the commission as it said it received 49,673 petitions and investigated 39,615 cases during the period.
₦1.23trn recovered
The EFCC also reported ₦1.233 trillion in naira recoveries over the 34-month period, alongside $684.48 million, €9.34 million and £373,905.78.
However, the composition of the naira figure shows that the entire ₦1.23 trillion did not accrue to the Federal Government.
About ₦397.26 billion, representing 33 per cent, was recovered directly for the Federal Government, while ₦836.34 billion, or 67 per cent, was recovered on behalf of ministries, departments and agencies, state revenue services, companies, individuals and foreign victims.
The commission said ₦661.32 billion in recovered naira had been released to beneficiaries, as well as $492.37 million.
Of the naira released, ₦325.35 billion went to individuals and corporate bodies, while ₦335.97 billion was released to government agencies, revenue authorities and other beneficiaries.
Cybercrime and fraud dominate offences
The EFCC’s figures also show that the commission’s caseload is increasingly shaped by cybercrime and fraud rather than only high-profile corruption cases involving public officials.
The commission said it recorded 46,288 offences across nine major categories between 2024 and 2026 year-to-date, with advance-fee fraud and cybercrime accounting for nearly two-thirds.
Recorded offences increased by 24.1 per cent between 2024 and 2025, with procurement fraud, bank fraud, cybercrime and economic-governance offences among the categories that recorded notable increases.
Its specialised enforcement portfolio, covering money laundering, unlicensed bureaux de change, illegal mining, virtual assets and terrorist financing produced 920 cases and 212 convictions, according to the commission.
“Across money laundering, unlicensed bureaux de change, illegal mining, virtual assets and terrorist financing, the commission recorded 920 cases, with 212 convictions secured and a substantial active pipeline of investigations and prosecutions. Money laundering and unlicensed bureau de change cases account for the largest share of this portfolio. We are also responding to emerging risks in virtual assets and illicit financial flows from the extractive sector,” he said.
Beyond cash, the EFCC said it secured forfeiture orders covering 10,053 tangible assets during the period, including properties, vehicles, electronics, land, schools, factories, hotels, oil rigs, barges, machinery and aircraft.
It also reported the forfeiture of 102 tonnes of solid minerals and said disposal of assets under final forfeiture orders generated approximately ₦12.07 billion for the Federal Government.
Mustapha Usman is an investigative journalist with the International Centre for Investigative Reporting. You can easily reach him via: musman@icirnigeria.com. He tweets @UsmanMustapha_M