EFCC Announces Recovery of over N364bn, Secures 4,111 Convictions
CHIGOZIE AMADI
The Economic and Financial Crimes Commission (EFCC) achieved its best-ever performance in 2024 since its inception, with significant recoveries in various currencies, including N364.6 billion, $214.5 million, £54,318.64, €31,265, CAD$2,990, and AUD$740, the anti-graft agency has announced.
Statistics released by the commission revealed that it made strides in cases involving advance fee fraud, money laundering, and cybercrime across all its zonal directorates nationwide.
Other recoveries include CFA7,821,375, UAE DIRHAM 170, RIYALS 5,115, W73,000, 105 Yen, GH¢225 and RAND 50.
The commission revealed that its 2024 asset recoveries included the forfeiture of over 750 duplexes and other apartments to the federal government, marking its largest single recovery since inception.
A breakdown of recovered assets includes: 173 vehicles, N9,477,977,318.78, $2,605,858.30, and £1,600. Others included Cryptocurrencies: 13.37 BTC ($572,992.86), 5.97886094 Ethereum ($13,353.06), 298.4770071 Green Satoshi tokens ($6), 1,002.547631 USDT ($10,022.22), N2,699,233 in Tether (USDT TRC-20), 378 electronics, one factory, one hotel, two gold chains, 14 parcels of land, petroleum products, and 70 tons of unidentified solid minerals
According to the EFCC report, some of the recovered funds have been reinvested into national initiatives benefiting Nigerians.
For instance, N50 billion was allocated to the Nigerian Education Loan Fund (NELFUND) to support students in completing their education and contributing to the workforce.
Also, the commission secured 4,011 convictions in 2024, with Lagos leading (685), followed by Enugu (516), Ibadan (501), Benin (412), headquarters (290), Kaduna (273), Ilorin (230), Uyo (220), Port Harcourt (185), and Makurdi (161). Other figures include Kano (148), Gombe (147), Abuja (140), Sokoto (108), and Maiduguri (95).
Additionally, EFCC received 15,724 petitions, with Lagos recording the highest (3,224), followed by headquarters (1,576), Kaduna (1,456), Enugu (1,362), Kano (1,270), and Port Harcourt (1,185). The agency investigated 12,928 cases, with Lagos again leading (2,454), followed by Headquarters (1,520), Benin (1,347), and Kaduna (940).
A total of 5,083 cases were filed in various courts. Ibadan and Lagos led with 786 cases each, followed by Enugu (545), Benin (482), headquarters (386), Kaduna (283), Ilorin (263), Uyo (263), Port Harcourt (257), and Kano (236).
The EFCC attributed its success to the dedication of its officers, management support, and ongoing efforts to enhance the knowledge and capacity of its prosecutors and judiciary.
