EFCC Chairman Reports Over 5,000 Fraud Petitions and N60bn Recovery in Less Than 100 Days

Mr. Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission (EFCC), revealed that within his first 100 days in office, the anti-graft agency received over 5,000 fraud petitions and successfully recovered N60 billion in looted funds. Olukoyede, appointed by President Bola Tinubu on October 12, 2023, highlighted the agency’s swift actions since his assumption of office.

Speaking at the 20th-anniversary lecture of the Human and Environmental Development Agenda Resources Centre in Lagos, Olukoyede emphasized the monumental task of combating corruption with limited resources. Despite having fewer than 4,800 staff, the EFCC is tasked with serving a population exceeding 150 million Nigerians.

Olukoyede underscored the importance of collective responsibility in combating corruption, stressing the need for citizens to report suspicious activities. He disclosed that out of the 5,000 petitions received, approximately 3,000 have been approved for investigation within a short span of less than four months.

Highlighting the agency’s achievements, Olukoyede reported securing convictions for 700 cases and recovering over N60 billion and $10 million in stolen funds. He lamented the magnitude of corruption in the country, suggesting that for every billion recovered, a trillion has been stolen.

In response to the ongoing challenges in the anti-corruption fight, Chairman of HEDA, Mr. Olanrewaju Suraju, called for an effective policing system with integrity. He also urged the judiciary not to discharge individuals with pending corruption cases, emphasizing the importance of holding perpetrators accountable.