The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has disclosed that the anti-graft agency released N661.32 billion and $492.37 million to beneficiaries in 34 months following recoveries.
The disclosure was made on Monday, August 31, 2026, according to a statement by the EFCC.
The records were released to update the public on Ola Olukoyede’s stewardship.
What the EFCC is saying
Available records, according to the Commission, showed that naira recoveries hit an all-time high of N1,233,612,040,411.11.
- “In dollars, it hit $684,478,457.32 (Six Hundred and Eighty-Four Million, Four Hundred and Seventy-Eight Thousand, Four Hundred and Fifty-Seven Dollars, Thirty-Two Cents).
- “In Pound Sterling, the recovery hit £373,905.78, while it rose to €9,343,803.66,” the statement partly reads.
The EFCC boss noted that recovery is only truly meaningful when value is returned to the public interest and to the rightful beneficiaries.
- Olukoyede stated that during the period under review, “N661.32 billion and US$492.37 million were released to beneficiaries.”
The naira releases, according to him, included about N325.35 billion paid directly to individuals and corporate bodies, while N335.97 billion was released to various MDAs, the Nigeria Revenue Service and States’ Internal Revenue Services, including releases to other public institutions, companies and individuals.
- “Out of the naira recovery, approximately N397.26 billion, representing 33 percent, was direct recovery for the Federal Government, while N836.34 billion, representing 67 percent, were recoveries made by the Commission on behalf of ministries, departments and agencies, state revenue services, companies, individuals and foreign victims,” the statement partly reads.
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Regarding prosecution during the…
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