By Augustine Ehikioya
Marking two years in office, the tenure of the Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, is said to be having great positive impacts on the Anti-graft war.
His mid-term Report obtained by Security Watch Africa as at October 19th, 2025, showed that N500 billion monetary recoveries were achieved.
Breakdown of the monetary recoveries included Naira ₦566,319,820,343.40, US Dollar ($) $411,566,192.32, British Pound (£) £71,306.25, Euro (€) €182,877.10, Canadian Dollar (CAD) CAD $5,510.00, Australian Dollar (AUD) AUD $740.00, Chinese Yuan (¥) ¥89,859.00.
Others are Indian Rupee (₹) ₹1,300.00, CFA Franc (CFA) CFA 8,381,375.00, UAE Dirham (AED) AED 70.00, Saudi Riyal (SAR) SAR 310,265.00, Ghanaian Cedi (GH₵) GH₵ 225.00, South African Rand (R) R 50.00, and South Korean Won (₩) ₩73,000.00.
Usage of parts of the recovered funds in the past two years included critical social investment programmes: the Students Loan Scheme and the Consumer Credit Scheme.
“A total of N100billion of funds recovered by the Commission was invested in these two schemes.
“Also agencies of government, including the Niger Delta Development Commission, NDDC, the Asset Management Corporation of Nigeria, AMCON, the Federal Inland Revenue Service, FIRS, and the National Health Insurance Authority, are beneficiaries of funds recovered by the Commission,” it stated.
For Non-monetary Assets Recovered, the total forfeited real estate assets in two years is 1,502 properties
This comprises 402 in 2023, 975 in 2024 and 125 so far in 2025.
The recovered property also included two notable landmarks: the final forfeiture of 753 units of duplexes in Lokogoma, Abuja and the forfeiture of Nok University, now Federal University of Applied Sciences, Kachia, Kaduna State
“A number of property recovered by the Commission have been allocated to some agencies of government for use as offices. Stimulating the Economy”
The report reads in parts “In his two years in the saddle, Olukoyede has impacted the Nigerian anti-graft landscape in a manner very few anti-graft czars have done, through robust enforcement of extant laws and ground-breaking reforms.
“His strides whether in the arrest and prosecution of politically exposed persons, cyber-criminals, or the recovery of stolen assets and advocacy to prevent financial crimes, are visible to all.
“We have summoned the media this morning to share some of the accomplishments with you for proper documentation for the benefit current and future generations.”
It continued “For most law enforcement organisations performance is frequently benchmarked on two critical scores: Records of convictions and recovery of proceeds of crime.
“On these two scores, the performance of the Olukoyede-led EFCC in the last two years is most inspiring. The numbers speak for themselves:
“Period Petitions Received Investigations Cases Filed in Court Convictions Secured:
Oct – Dec 2023: 3,594. 3,747. 2,064. 826
Jan – Dec 2024 :15,724. 12,924 . 5,081. 4,111
Jan – Sep 2025: N/A. 12,569 . 3,380. 2,566
Total (Oct 2023 – Sep 2025): 19,318+ 29,240. 10,525 7,503”
The report also listed some of the notable arrests and prosecution for alleged corruption to include former governors Willie Obiano of Anambra State, Abdulfatha Ahmed of Kwara State, Dairus Ishiaku of Taraba State, Theodore Orji of Abia State and Yahaya Bello of Kogi State.
Others are former ministers: Olu Agunloye, former minister of Power, Mamman Saleh, former minister of Power, Hadi Sirika, former minister of Aviation, Charles Ugwu, former minister of Industry and Godwin Emefiele, former Governor of the CBN.
Another notable arrest and prosecution was the case of 792 investment and cryptocurrency fraud suspects apprehended in a sting operation in Lagos in December 2024.
The syndicate included 192 foreigners, who have since been prosecuted for cyber-terrorism and cryptocurrency fraud and deported.
“This development conveys the message that Nigeria will not tolerate foreigners turning it to a safe haven for cybercrimes.
Review of prosecution of longstanding cases
“Another interesting development in the prosecution of corruption cases under Olukoyede, is that cases thought to have been abandoned were reviewed and prosecutions revived.
“Among them are the cases of Fred Ajudua, former PDP Chairman, Haliru Bello Mohammed, former NSA, Sambo Dasuki, and former managing Director of NSITF, Ngozi Olojeme, among others,” it stated.
