EFCC Recovered N365.4bn, Secured 4,111 Convictions in 2024 – Chairman

The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has announced that the anti-graft agency recovered a staggering N365.4 billion and secured 4,111 convictions across Nigeria in 2024.

Speaking in Uyo, Akwa Ibom State, at the conclusion of a three-day retreat for directors, Olukoyede credited these achievements to the dedication, commitment, and sacrifices of EFCC personnel. The retreat, themed “EFCC: The Journey So Far, Ensuring Professionalism and Integrity,” aimed to assess the commission’s progress and reinforce its commitment to tackling financial crimes.

In his address, Olukoyede assured Nigerians that within the next six months, the EFCC would be transformed into a “brand new institution” with a stronger commitment to professionalism, integrity, and efficiency. He emphasized the need for officers to maintain the highest ethical standards in their operations to sustain public trust in the commission’s activities.

Professionalism and Integrity at the Core of the EFCC’s Mission

During the retreat, Olukoyede highlighted the crucial role of professionalism and integrity in the fight against corruption. He called on EFCC personnel to exhibit honesty, diligence, and efficiency in handling cases, stressing that their conduct directly affects public perception and confidence in the agency.

“The Economic and Financial Crimes Commission must continue to evolve into a highly motivated, honest, and effective team,” he said, urging staff to rededicate themselves to the agency’s core mission of combating corruption. He also reaffirmed his commitment to surpassing the 2024 records, emphasizing that the fight against economic and financial crimes remains a top priority.

The EFCC chairman further assured that under his leadership, there would be zero tolerance for misconduct within the agency, as any form of corruption or compromise from within could undermine the credibility of the anti-graft war.

Public Perception and the Role of Information Management

One of the key sessions at the retreat focused on how public perception affects the Economic and Financial Crimes Commission’s effectiveness. A keynote speaker, Professor Tonnie Iredia, noted that negative perceptions about the EFCC are often fueled by deliberate misinformation and cynicism regarding its activities.

Iredia commended the leadership of Olukoyede for ensuring transparency in the commission’s operations and urged the public to be more engaged in the anti-corruption fight. He emphasized that tackling financial crimes requires collaboration between the EFCC, the media, and the general public to dispel misinformation and enhance the commission’s credibility.

The retreat also examined the challenges posed by media sensationalism, which sometimes distorts the commission’s work. Participants agreed that strategic information management would help the EFCC gain more public trust and support in the long run.

Challenges Facing the EFCC and Judicial Constraints

Renowned human rights lawyer Femi Falana, SAN, provided an in-depth analysis of the EFCC’s evolution and the legal obstacles impeding its work. He acknowledged the commission’s relentless efforts but pointed out that the judicial system remains a major challenge in securing convictions and enforcing penalties.

Falana emphasized that prolonged court cases and legal technicalities often hinder the quick dispensation of justice, allowing some high-profile corruption cases to drag on for years. He called for urgent judicial reforms to ensure that financial criminals are prosecuted swiftly and effectively.

Despite these challenges, Falana reaffirmed that the EFCC has become a permanent institution in Nigeria’s anti-corruption landscape. He commended the commission’s staff for their resilience and encouraged them to remain steadfast in their fight against financial crimes.

The Future of the EFCC and the War Against Corruption

Looking ahead, Olukoyede promised that the Economic and Financial Crimes Commission would strengthen its institutional framework to ensure greater efficiency in tackling financial crimes. He reiterated his vision of a stronger, more accountable commission that would deliver on its mandate without compromise.

He called for closer collaboration with other law enforcement agencies, the judiciary, and the public to deepen the fight against corruption. According to him, the commission is working on new strategies and innovations to make the prosecution of corruption cases more effective.

As the retreat concluded, stakeholders agreed that while the EFCC has made significant progress, there is still a long way to go in eradicating corruption in Nigeria. With the commission’s renewed focus on professionalism, integrity, and efficiency, the hope remains that the war against financial crimes will yield even greater results in the coming years.