Imagine recovering over a trillion naira plus hundreds of millions in dollars pounds and euros in less than three years. That is exactly what the EFCC says it has pulled off.

So what is really going on, as reported by cbinews.tv?

EFCC Chairman Ola Olukoyede dropped the big numbers on Monday in Abuja while speaking to media executives and journalists. He described asset recovery as one of the major pillars of his stewardship.

Between October 1 2023 and June 30 2026, the Commission recovered N1,233,612,040,411.11, $684,478,457.32, £373,905.78 and €9,343,803.66 plus other currencies.

Of that naira haul, about N397.26 billion, which is 33 per cent, was direct recovery for the Federal Government. The remaining N836.34 billion, about 67 per cent, was indirect recovery made on behalf of various ministries.

Olukoyede took over in October 2023 after a turbulent period for the anti graft agency which was set up in 2003 under President Olusegun Obasanjo to tackle advanced fee fraud and money laundering.

Since then, EFCC recovery figures have often been quoted in hundreds of billions, not trillions. So N1.23 trillion in 33 months is huge, especially at a time when the naira has lost over 70 per cent of its value and government revenue is under pressure.

N1.23 trillion is more than the entire budget of several states combined and is enough to fund the federal health budget for a year. The dollar recovery alone, $684 million, is also eye catching given Nigeria's chronic forex shortage.

Olukoyede says this shows asset recovery remains central to fighting economic crime and safeguarding public resources.

If verified, it will be one of the biggest recovery hauls in EFCC history.

#EFCC #OlaOlukoyede #NigeriaNews #AntiCorruption #NairaRecovery #FinancialCrime #AbujaNews #CBINewsTV