EFCC’s Battle Against Fraud Yields Over ₦200 Billion, 3,000 Convictions In One Year

The Economic and Financial Crimes Commission (EFCC) has successfully recovered more than ₦200 billion and achieved approximately 3,000 convictions within one year under the leadership of its chairman, Ola Olukoyede……CONTINUE READING

According to Naija News, President Bola Tinubu appointed Olukoyede as the head of the EFCC in October 2023. Since his appointment, the anti-corruption agency has made notable progress, with EFCC spokesperson Wilson Uwujaren highlighting these achievements during an appearance on Channels Television’s The Morning Brief.

“In the past year, we have recovered over ₦200 billion in naira alone, not to mention recoveries in dollars and euros,” Uwujaren stated. “In terms of convictions, we’ve secured over 3,000 within this period, which we consider significant.”

Despite these impressive figures, Uwujaren emphasized that the EFCC’s main objective is crime prevention rather than simply obtaining convictions. He revealed that around 70% of the convictions were linked to cybercrime, with most of the offenders being young individuals.

“Our focus is not just on the number of convictions, but on preventing corruption from happening in the first place,” he noted. “Of the convictions I mentioned, about 70% are related to cybercrime.”

The EFCC has launched several initiatives, including awareness campaigns aimed at educating young Nigerians about the dangers of cyber fraud. Beyond cybercrime, Uwujaren also acknowledged that corruption within the public sector, particularly in contract and procurement processes, remains a significant issue.

He affirmed the EFCC’s dedication to preventing such corrupt practices before they evolve into major fraud cases, emphasizing the importance of proactive measures in safeguarding the nation’s resources.