“EFCC Achieves Major Milestone: ₦200 Billion Recovered and 3,000 Convictions in Just One Year!”

Babatunji Wusu –

• Significant Recoveries: EFCC has recovered over ₦200 billion and secured 3,000 convictions in one year.
• Focus on Prevention: The agency emphasizes crime prevention over mere conviction statistics.
• Cybercrime Concentration: About 70% of convictions are related to cybercrime, mainly involving youth.
• Public Sector Corruption: The EFCC targets corruption in contracts and procurement to mitigate larger fraud risks.

The Economic and Financial Crimes Commission (EFCC) has achieved remarkable milestones in its fight against corruption under the leadership of Chairman Ola Olukoyede, recovering over ₦200 billion and securing approximately 3,000 convictions within just one year. President Bola Tinubu appointed Olukoyede to lead the anti-corruption agency in October 2023.

According to EFCC spokesperson Wilson Uwujaren, these impressive figures highlight the significant progress made during Olukoyede’s tenure. “In terms of naira recovery, we have amassed over ₦200 billion in the first year of Ola Olukoyede’s administration, not to mention the dollar and euro components of these recoveries,” he stated. Uwujaren emphasized the scale of these accomplishments, noting that around 70% of the convictions were related to cybercrime, predominantly involving younger individuals.

Despite these successes, Uwujaren clarified that the EFCC prioritizes crime prevention over merely tallying convictions. “Our current focus is on preventing corruption. The majority of our convictions are linked to cybercrime, but we are not merely emphasizing these records,” he explained.

To raise awareness among young Nigerians about the perils of fraud, particularly in cybercrime, the EFCC has initiated various sensitization campaigns. Uwujaren also identified corruption in the public sector—especially concerning contracts and procurement—as a significant challenge. He reiterated the agency’s commitment to addressing these issues proactively to avert larger fraud cases.

“The primary source of corruption in the public sector largely involves contract and procurement processes,” Uwujaren remarked. “We aim to check these practices before they escalate. The popular maxim is that prevention is better than cure; preventing procurement fraud can save significant resources for our country.”