EFCC Achieves Record-Breaking 4,111 Convictions and Largest Asset Recovery in 2024

The Economic and Financial Crimes Commission (EFCC) has announced an unprecedented 4,111 convictions in 2024, marking the highest in its history since its establishment in 2003.

According to the 2024 EFCC statistical report, released over the weekend, the anti-graft agency also secured the largest single-year asset recovery, reinforcing its relentless pursuit of financial crime offenders.

Unprecedented Crackdown on Financial Crimes

The EFCC revealed that it received 15,724 petitions and investigated 12,928 cases across its various zonal offices nationwide. Out of these, 5,083 cases were filed in different courts.

The most common crimes included:
✅ Advance Fee Fraud
✅ Money Laundering
✅ Cybercrime

The surge in financial crimes was attributed to rising unemployment, the quest for quick wealth, a largely informal economy, and weak regulatory frameworks.

States with the Highest Convictions

EFCC’s 4,111 convictions spanned across 15 states, with:
🔹 Lagos Zone recording the highest at 685 convictions
🔹 Enugu followed with 516 convictions
🔹 Maiduguri had the lowest at 95 convictions

Massive Asset Recovery: Over ₦364 Billion Recovered

EFCC’s asset recovery efforts led to the retrieval of vast amounts of cash and properties, including:
💰 ₦364.6 billion
💰 $214.51 million
💰 54,319 euros
💰 31,265 euros
💰 CAD $2,990 and AUD $740
💰 CFA 7,821,375, UAE Dirham 170, Riyals 5,115, W73,000, 105 Yen, GH¢225, and Rand 50

In addition, the EFCC secured the forfeiture of over 750 duplexes and apartments to the Federal Government, making it the largest single asset recovery in the commission’s history.

Other Recovered Assets

🏠 173 vehicles
🏦 ₦9.478 billion, $2.6 million, and £1,600
🪙 Cryptocurrency holdings, including:

• 13.37 BTC ($572,992.86)
• 5.97 Ethereum ($13,353.06)
• 1,002.54 USDT ($1,002.22)
  📺 378 electronics
  🏭 One factory and one hotel
  ⛽ Petroleum products and 70 tons of solid minerals

EFCC’s Impact on Nigeria’s Economy

A portion of these recoveries has been channeled into national development initiatives. Notably, the Nigerian Education Loan Fund (NELFUND) received ₦50 billion from recovered funds to support student loans.

"By investing in education, we are not only fighting corruption but also empowering the next generation to contribute to Nigeria’s future," the report stated.

The EFCC reaffirmed its commitment to:
✔️ Enhancing prosecution strategies
✔️ Collaborating with local and international agencies
✔️ Strengthening its asset recovery framework

With this record-breaking performance, the EFCC has signaled its unwavering stance against corruption and its commitment to restoring accountability in Nigeria.