On October 2, 2026, President Bola Tinubu commended the Economic and Financial Crimes Commission (EFCC) for its efforts in tackling economic and financial crimes and corruption in Nigeria. Speaking at the commissioning of a new EFCC Zonal Directorate in Awka, Anambra State, Tinubu expressed confidence in the agency's performance. He was represented by Speaker of the House of Representatives, Tajudeen Abbas. The President highlighted the EFCC's achievements in convictions, recoveries, and other areas as evidence of its success.
Tinubu stated that the EFCC's activities align with his administration's Renewed Hope Agenda, focusing on economic reform and good governance. He mentioned that two of the nine major focal areas of his administration are reforming the economy for sustained and inclusive growth and promoting good governance. The EFCC's efforts complement this agenda, emphasizing accountability, transparency, and proper resource deployment. Tinubu's remarks underscored the importance of the EFCC's role in Nigeria's anti-corruption efforts.
EFCC Chairman, Ola Olukoyede, reaffirmed the commission's commitment to preventing economic and financial crimes by blocking avenues for corrupt practices. He stated that the newly commissioned directorate will combine enforcement with prevention, engaging various sectors and institutions in the fight against corruption. The directorate will educate stakeholders, build relationships, and mobilize the public to own the fight against corrupt practices in the zone. Olukoyede emphasized the commission's dedication to a multi-faceted approach.
Olukoyede disclosed that the EFCC has made significant progress in its mandate over the past 34 months. Between October 2023 and July 2026, the commission received 49,673 petitions, investigated 39,615 cases, filed 14,476 cases in court, and secured 10,872 convictions. This gives a conviction-to-filing ratio of 75.1 percent. In the first half of 2026 alone, the EFCC recorded 1,370 convictions from 1,889 filings. These statistics demonstrate the commission's productivity.
The EFCC chairman also revealed that the commission recorded substantial recoveries in various currencies. These include N1,233,612,040,411.11, $684,478,457.32, £373,905.78, and €9,343,803.66, in addition to recoveries in other currencies. Olukoyede highlighted that these recoveries demonstrate the commission's effectiveness in asset retrieval. The EFCC's efforts aim to deprive corrupt individuals and groups of their ill-gotten gains.
Olukoyede mentioned that the EFCC has implemented institutional reforms to improve its operations and strengthen its law enforcement processes. These reforms include new guidelines on arrest and bail, a review of sting operations, and the establishment of various departments and units. The reforms aim to enhance the commission's efficiency and effectiveness in combating corruption. The EFCC continues to adapt and improve its strategies.
The commissioning of the new EFCC Zonal Directorate in Awka marks a significant milestone in the agency's efforts to combat corruption in Nigeria. With its renewed focus on enforcement, prevention, and engagement, the EFCC is poised to make a greater impact in the fight against economic and financial crimes. President Tinubu's commendation and the EFCC's progress demonstrate a shared commitment to promoting accountability and transparency in Nigeria.
Key points
- President Tinubu commends EFCC for anti-corruption efforts and recoveries
- EFCC secures 10,872 convictions between October 2023 and July 2026
- Commission recovers N1.23 trillion, $684 million, and other currencies in assets
