The Economic and Financial Crimes Commission (EFCC) has achieved a historic milestone in 2024, marking its most successful year since its inception. The anti-graft agency reported remarkable recoveries, including N364.6 billion, $214.5 million, £54,318.64, €31,265, CAD$2,990, and AUD$740, among others.
In a recent report, the EFCC detailed significant strides in tackling advance fee fraud, money laundering, and cybercrime through its zonal directorates nationwide. Along with substantial cash recoveries, the EFCC also seized over 750 duplexes and apartments, making this its largest single asset recovery to date.
Other notable recoveries include a wide range of foreign currencies: CFA7,821,375, UAE DIRHAM 170, RIYALS 5,115, W73,000, 105 Yen, GH¢225, and RAND 50. Additionally, the commission seized 173 vehicles, N9.48 billion, $2.6 million, and £1,600. The EFCC also recovered various cryptocurrencies, including 13.37 BTC ($572,992.86), 5.98 ETH ($13,353.06), 298.48 Green Satoshi tokens, 1,002.55 USDT ($10,022.22), and N2.7 million in Tether (USDT TRC-20).
The agency’s diverse asset recoveries also featured 378 electronics, one factory, one hotel, two gold chains, 14 parcels of land, petroleum products, and 70 tons of unidentified solid minerals.
Not only did the EFCC secure these impressive financial and asset returns, but it also reinvested a portion of the recovered funds into national initiatives aimed at benefiting Nigerians. Notably, N50 billion was allocated to the Nigerian Education Loan Fund (NELFUND) to support students in their educational pursuits and workforce participation.
In terms of convictions, the EFCC recorded 4,011 successful convictions in 2024, with Lagos leading the charge (685), followed by Enugu (516), Ibadan (501), and Benin (412). The commission also handled 15,724 petitions, with Lagos (3,224) again topping the list.
Furthermore, EFCC investigators probed 12,928 cases, with Lagos again leading with 2,454 cases, followed by Headquarters (1,520), Benin (1,347), and Kaduna (940). A total of 5,083 cases were filed in courts, with Ibadan and Lagos each filing 786 cases.
EFCC officials credited the agency’s success to the commitment of its officers, the backing of management, and continuous efforts to enhance the skills of its prosecutors and judiciary.
