The Economic and Financial Crimes Commission (EFCC) has announced a record-breaking 4,111 convictions in 2024, marking the highest in its history since its establishment in 2003.
According to the EFCC’s 2024 statistical report, released over the weekend, the agency also recorded its largest single-year asset recovery, further strengthening its anti-corruption drive.
The report revealed that the EFCC received 15,724 petitions and investigated 12,928 cases across all its zonal directorates in Nigeria, with 5,083 cases filed before various courts.
The most common offences were advance fee fraud, money laundering, and cybercrime, driven by rising unemployment, a quest for quick wealth among youths, and weak regulatory frameworks.
Convictions were recorded across 15 states, with Lagos leading at 685, followed by Enugu with 516. Maiduguri had the lowest, with 95 convictions.
The agency also recovered significant monetary assets, including:
– N364.6 billion
– $214.51 million
– €54,319 and £1,600
– Various sums in Canadian, Australian, CFA, UAE, and other currencies
In addition, the EFCC secured the forfeiture of over 750 duplexes and apartments, 173 vehicles, parcels of land, a factory, a hotel, gold chains, petroleum products, and 70 tons of unidentified solid minerals.
The commission disclosed that some of the recovered funds have been reinvested by the Federal Government, notably the N50 billion allocated to the Nigerian Education Loan Fund (NELFUND), which supports students’ education and workforce integration.
The EFCC attributed its success to the dedication of its officers, support from stakeholders, and strengthened international collaborations in asset recovery. The agency reaffirmed its commitment to enhancing the capacity of its prosecutors and judiciary while intensifying its fight against financial crimes.
