LAGOS, Nigeria — Nigeria’s Economic and Financial Crimes Commission (EFCC) secured 10,872 convictions and recovered more than ₦1.23 trillion between October 2023 and July 2026, highlighting the growing economic and fiscal impact of the country’s intensified campaign against financial crime and corruption.
According to a performance account covering the commission’s 34-month stewardship, the EFCC received 49,673 petitions, investigated 39,615 cases and filed 14,476 cases in court during the period. The commission said its convictions represented a 75.1 per cent conviction-to-filing ratio.
In the first half of 2026 alone, the EFCC recorded 1,370 convictions from 1,889 cases filed in court, reflecting what it described as an enforcement strategy increasingly focused on evidence, prosecution and courtroom outcomes.
The figures underscore the commission’s expanding role beyond conventional corruption investigations, with financial crime enforcement increasingly linked to Nigeria’s fiscal position, financial-market integrity, foreign-exchange stability and international investment reputation.
Cybercrime, Advance-Fee Fraud Drive Financial Crime Cases
The EFCC said its case data recorded 46,288 offences across nine major financial-crime categories between 2024 and 2026 year-to-date.
Advance-fee fraud and cybercrime accounted for nearly two-thirds of the recorded offences, while total recorded offences increased by 24.1 per cent between 2024 and 2025.
The commission also reported notable increases in procurement fraud, bank fraud, cybercrime and economic-governance offences.
The trend, according to the EFCC, demonstrates that Nigeria’s financial-crime challenge extends beyond high-level corruption to fraud and cyber-enabled economic exploitation affecting individuals, businesses and institutions.
The commission said it has continued to pursue high-profile cases involving former governors, ministers, public officials, financial-sector operators and corporate executives, maintaining that political or institutional status should not shield anyone from prosecution.
It cited recent convictions involving Saleh Mamman, Robert Orya and Chukwunyere Nwabuoku as examples of its high-profile enforcement activities. The commission stressed that investigations and prosecutions would continue to be conducted on the basis of evidence, with courts determining guilt or innocence.
EFCC Recovers ₦1.23tn, $684.5m
Asset recovery emerged as one of the most significant components of the EFCC’s performance.
Between October 1, 2023 and June 30, 2026, the commission reported recovering ₦1.2336 trillion, $684.48 million, £373,905.78 and €9.34 million, in addition to recoveries denominated in other currencies.
Of the naira recoveries, approximately ₦397.26 billion, or 33 per cent, represented direct recoveries for the Federal Government, while ₦836.34 billion, or 67 per cent, represented indirect recoveries made on behalf of ministries, departments and agencies, state revenue authorities, companies, individuals and foreign victims.
The commission said the figures demonstrate that a substantial proportion of its recovery activities ultimately benefits parties beyond the Federal Government.
Recoveries were also translated into restitution. During the period, ₦661.32 billion and $492.37 million were released to beneficiaries.
Of the naira amount released, approximately ₦325.35 billion went directly to individuals and corporate organisations, while ₦335.97 billion was released to government ministries, departments and agencies, the Nigerian Revenue Service and state internal revenue services, among other beneficiaries.
Tax Recoveries Generate ₦288bn for Federal, State Governments
The commission said its enforcement activities have also produced significant fiscal value for Nigeria’s federal and subnational governments.
Federal and state tax recoveries amounted to approximately ₦288.1 billion during the period. This included about ₦173.2 billion in federal tax recoveries and ₦114.9 billion recovered for state internal revenue services.
The EFCC stressed that the money represented the recovery of existing tax obligations rather than the introduction of new taxes.
It also reported approximately ₦257.2 billion in naira recoveries for federal ministries, departments and agencies, arguing that anti-corruption enforcement can strengthen government revenue mobilisation without increasing the tax burden.
The commission said this fiscal dimension makes financial-crime enforcement relevant to Nigeria’s broader economic reform agenda because recovered funds can return resources to government, businesses and citizens.
EFCC Recoveries Fund Education, Consumer Credit
Some proceeds recovered through the EFCC have also been channelled into programmes designed to support education and consumer financing.
The Federal Government in August 2024 directed that ₦50 billion each from EFCC-recovered proceeds be allocated to the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation.
The document said an additional ₦50 billion each for NELFUND and the Consumer Credit Corporation was subsequently approved in 2026 from EFCC recoveries.
The commission presented the allocations as an example of how recovered criminal proceeds can be transformed into productive economic and social investments rather than remaining solely an enforcement statistic.
A recovered property formerly known as NOK University was also converted into the Federal University of Applied Sciences, Kachia, Kaduna State. The institution matriculated 1,909 students in December 2025, according to the document.
The EFCC said the conversion illustrates how recovered assets can be repurposed to create long-term public value while supporting economic activity in host communities.
More Than 10,000 Assets Forfeited
Beyond cash recoveries, the EFCC secured the forfeiture of 10,053 tangible assets under interim and final court orders between October 2023 and July 2026.
The assets included 8,198 electronic items, 1,177 real-estate properties, 370 automobiles and 251 plots of land, as well as schools, factories, hotels, shops, oil rigs, barges, machinery and aircraft.
The commission also recorded the forfeiture of 102 tonnes of solid minerals.
Proceeds from the disposal of assets under final forfeiture orders amounted to approximately ₦12.07 billion, which was paid to the Federal Government.
The commission said asset forfeiture is intended not only to deprive criminal enterprises of the proceeds of illegal activity but also to generate economic value for legitimate public purposes.
EFCC Links Enforcement to Nigeria’s FATF Grey-List Exit
The EFCC also linked its enforcement activities to broader efforts to strengthen Nigeria’s financial system and international standing.
It said sustained action against money laundering, terrorist financing, illicit financial flows, virtual-asset risks, asset concealment and confiscation contributed to the country’s wider anti-money-laundering and counter-terrorist-financing reforms.
Nigeria was removed from the Financial Action Task Force (FATF) Grey List in October 2025, which the commission described as a national achievement to which its enforcement and casework contributed.
The development is significant for Nigeria’s international financial reputation because stronger anti-money-laundering controls can improve confidence in the country’s financial system and reduce exposure to illicit financial flows.
234 BDC Cases, 73 Convictions
The EFCC said it has also intensified enforcement in Nigeria’s foreign-exchange market, particularly against unlicensed bureaux de change (BDCs).
The commission recorded 234 BDC-related cases and 73 convictions over the last three years.
It said the objective is to support a more formal, transparent and compliant retail foreign-exchange market while closing channels vulnerable to illicit finance, speculation and round-tripping.
The enforcement campaign comes as Nigeria continues efforts to strengthen the transparency and efficiency of its foreign-exchange market.
International Cooperation Expands
The commission said its enforcement capacity has been strengthened through cooperation with domestic and international law-enforcement agencies.
International partners include the U.S. Federal Bureau of Investigation, UK National Crime Agency, Royal Canadian Mounted Police and INTERPOL, alongside other national and international law-enforcement institutions.
The EFCC said its recoveries increasingly span multiple jurisdictions and currencies, requiring cooperation to trace, freeze, confiscate and return assets connected to financial crimes.
At the West African level, the EFCC leadership also reported the re-election of its head as president of the Network of National Anti-Corruption Institutions in West Africa (NACIWA) for another three-year term. The network provides a platform for regional cooperation on asset recovery, financial-crime enforcement and institutional strengthening.
EFCC Digitalises 60% of Operations
Alongside enforcement, the commission said it has undertaken institutional reforms aimed at improving operational efficiency and professional standards.
These reforms include new guidelines on arrest and bail, a review of sting operations, and the establishment of a Department of Fraud Risk Assessment and Control, Security Department, Immigration and Visa Section and Cybercrime Rapid Response Centre.
The EFCC also commissioned directorates in Enugu and Ilorin and established new directorates in Ekiti, Anambra and Katsina states.
It introduced policies covering gifts and hospitality, conflict of interest and exhibit-room security, while restructuring its Internal Affairs Department as the Ethics and Integrity Department.
The commission said approximately 60 per cent of its processes and operations have now been digitalised, with further investments planned in technology, its academy, the 24/7 Cybercrime Rapid Response Centre and EFCC Radio.
EFCC Sets Focus on Prevention, Faster Restitution
Looking ahead, the commission said its priorities would shift further towards prevention, faster restitution, advanced investigative technology and improved professionalism in its engagement with citizens.
The EFCC said its objective is to move beyond headline arrests and recovery announcements by creating a measurable chain from intelligence and prevention to investigation, prosecution, conviction, recovery and restitution.
For Nigeria’s economy, the commission argues that the wider value of anti-corruption enforcement lies in recovering resources, strengthening public revenues, protecting businesses and financial institutions, improving financial-market integrity and enhancing the country’s international credibility.
The commission acknowledged that significant challenges remain but pledged to intensify its campaign against corruption and economic crime while maintaining respect for due process and focusing on measureable public value.