EFCC recovers N156bn, secures 3,175 convictions in one year

The Economic and Financial Crimes Commission (EFCC) has announced the recovery of assets valued at over N156 billion within the past year.

Ola Olukoyede, the EFCC Executive Chairman, made this announcement on Wednesday during the launch of the Zero Tolerance Club at the University of Abuja, Gwagwalada.

Additionally, the commission reported securing 3,175 convictions over the same period.

“From May 29, 2023, to May 29, 2024, the EFCC recovered N156,276,691,242.30, along with significant amounts in foreign currencies: $43,835,214.24, £25,365.00, €186,947.10, ₹51,360.00, C$3,750.00, A$740.00, ¥74,754.00, R35,000.00, 42,390.00 UAE Dirhams, 247.00 Riyals, and 21,580.00 in cryptocurrency”, he stated.

The Chairman of the commission, represented by Mohammed Hammajoda, the EFCC Secretary, expressed concern over the rising involvement of youths in cybercrime, commonly known as “yahoo yahoo.”

He highlighted the alarming rate of arrests and convictions among young people, urging students to avoid such activities.

“Conviction for fraud leaves a life-long scar,” he warned, stressing the importance of channeling creativity into positive endeavours.

Wilson Uwujaren, Director of Public Affairs, DCE, emphasized the EFCC’s commitment to mobilizing youths against corruption.

He explained that the Zero Tolerance Club aims to engage students in continuous dialogue about the importance of fighting corruption for Nigeria’s future.

Abdulrasheed Na’Allah, University of Abuja Vice Chancellor, echoed these sentiments, urging students to emulate their peers in developed nations by using their talents for innovation rather than fraud.

He praised the EFCC’s initiative in establishing the Zero Tolerance Club at the university.

David Ife, the assistant commander of the EFCC and Aisha Mohammed, Head of the Enlightenment and Reorientation Unit, also spoke on the detrimental effects of cybercrime and the importance of nurturing future leaders to be proactive anti-corruption ambassadors.

The highlight of the event was the presentation of EFCC manuals, magazines, and a club signage to the university, symbolizing the start of a collaborative effort to combat corruption from the grassroots.