Tinubu Commends EFCC Over N1.23trn Recoveries, 10,872 Convictions
By Sabiu Abdullahi
President Bola Tinubu has commended the Economic and Financial Crimes Commission (EFCC) for recovering assets worth more than N1.23 trillion and securing 10,872 convictions between October 2023 and July 2026.
Tinubu, represented by Vice-President Kashim Shettima, spoke on Tuesday in Abuja at the opening of the eighth EFCC and National Judicial Institute (NJI) workshop for judges and justices.
The three-day workshop, which ends on Thursday, October 15, is themed “Investigation and Prosecution of Economic and Financial Crimes in a Digital Age”.
The president said the commission had made significant progress in tackling financial crimes, recovering illicit assets and improving Nigeria’s standing in the international financial system.
He also praised the EFCC’s efforts to combat cryptocurrency fraud and recover virtual assets.
“The EFCC’s recent momentum in tackling cryptocurrency fraud and its commendable strides in recovering virtual assets is highly reassuring,” he said.
Tinubu cited the prosecution and subsequent deportation of 192 foreign nationals arrested over alleged cyberterrorism and cryptocurrency fraud as evidence of efforts to address technology-driven crimes.
According to figures released by the EFCC, the commission received 49,673 petitions and investigated 39,615 cases between October 1, 2023, and July 31, 2026.
The investigations led to 14,476 court filings and 10,872 convictions, representing a conviction-to-filing ratio of 75.1 per cent.
The commission also reported recovering N1.233 trillion, $684.48 million, £373,905.78 and €9.34 million during the period.
Tinubu said the growing sophistication of financial crimes, particularly those involving blockchain technology and artificial intelligence, made continuous training essential for investigators, prosecutors and judicial officers.
He pledged the government’s continued support for judicial capacity development and described an independent, reform-oriented judiciary as crucial to the fight against corruption.
The president urged the EFCC and the judiciary to strengthen prosecutorial discipline and address procedural gaps that could delay trials or allow defendants to frustrate proceedings.
He warned that major corruption cases lost on procedural technicalities could weaken public confidence in the justice system.
Tinubu added that the fight against corruption required cooperation among all arms of government, rather than being treated as the sole responsibility of the executive.
He also said asset recoveries had supported social intervention programmes, including the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP).
EFCC Seeks Faster Trials, Stronger Investigations
EFCC Chairman Ola Olukoyede said the commission had introduced operational reforms to improve asset recovery and increase convictions.
He said the agency was expanding intelligence-led investigations, strengthening forensic capabilities and improving domestic and international cooperation while building its capacity to investigate emerging financial technologies.
“We do not seek simply to investigate more people; we seek to investigate more intelligently,” Olukoyede said.
“We do not seek merely to prosecute more cases; we seek to prosecute cases that are properly investigated and capable of meeting the required standard of proof.”
Olukoyede said the commission also wanted to ensure that asset recoveries were lawful, transparent and sustainable.
He identified institutional bottlenecks, procedural delays, frivolous adjournments and frequent changes of legal counsel as obstacles to the prosecution of complex financial crime cases.
He warned that prolonged trials could weaken evidence, affect witnesses and undermine public confidence in the judiciary.
The EFCC chairman urged judges to handle corruption cases with integrity, judicial courage and respect for the rule of law.
He stressed that the commission was not asking judges to compromise due process or manufacture evidence to secure convictions, but to ensure that cases were decided rigorously and without unnecessary delays.
He added that effective prosecution required investigators to understand evidentiary standards, prosecutors to anticipate legal challenges, forensic specialists to present digital evidence clearly and judges to understand emerging forms of financial crime.
CJN Insists On Fair Hearing In Financial Crime Cases
The Chief Justice of Nigeria, Kudirat Kekere-Ekun, called on the judiciary to strengthen its capacity to handle emerging financial crimes without compromising fair hearing, due process or judicial independence.
She said cryptocurrency transactions, encrypted communications, electronic records and cross-border financial activities had introduced new complexities into criminal proceedings.
Kekere-Ekun said judges needed to understand how digital evidence was collected, preserved, authenticated and assessed in court.
She emphasised that the seriousness of an allegation must not determine the outcome of a trial, noting that prosecutors must establish their cases through credible and legally admissible evidence.
The CJN also urged judges to apply the Administration of Criminal Justice Act, 2015, effectively by preventing unnecessary delays while protecting the rights of all parties.
She said continued judicial education had improved judges’ ability to handle financial crime cases.
Kekere-Ekun cited Nigeria’s removal from the Financial Action Task Force’s grey list on October 24, 2025, as an important milestone that required sustained commitment from relevant institutions.
She urged the judiciary to maintain high professional standards in cases involving corruption, money laundering and other financial crimes.









