EFCC Records Over N364bn, $326m Recoveries, 4,171 Convictions in One Year

The Economic and Financial Crimes Commission (EFCC) has announced significant milestones in its anti-corruption campaign, securing record financial recoveries and convictions that underscore its role beyond tackling internet fraud.

According to the Commission, between 2023 and 2024 it recovered N364.5 billion and $326.5 million, alongside monitoring the disbursement of several government intervention funds.

These included the PL-CNG scheme, NG-CARES, NACA Global Fund, SESET, AMCON loans, and various Central Bank of Nigeria (CBN) facilities, such as COVID-19 support schemes and conversion loans with 15 percent cover.

The EFCC also disclosed that during the period under review, it received 15,724 petitions, of which 12,928 were investigated.

According to the Commission, this led to 5,081 cases filed in court and 4,171 convictions secured, with 2,348 cases still ongoing.

Officials of the Commission described the achievements as “unprecedented,” noting that they reflect the EFCC’s growing influence in safeguarding Nigeria’s financial system and ensuring accountability across both the public and private sectors.

“These figures are not just numbers; they represent deterrence, restitution, and a firm statement that corruption will not be tolerated. The Commission’s work goes far beyond internet fraud. We are protecting national assets and ensuring that critical intervention funds reach their intended beneficiaries,” an EFCC source stated.

The Commission emphasised that the record-setting recoveries and convictions were achieved under strict adherence to due process and judicial oversight, adding that its transparency in operations has strengthened public confidence.

Observers note that the EFCC’s recent performance reaffirms its leadership in Africa’s anti-graft fight, as Nigeria continues to grapple with challenges of corruption, mismanagement, and economic sabotage.