EFCC secures 4,111 convictions in 2024, highest since establishment
The Economic and Financial Crimes Commission (EFCC) secured 4,111 convictions in 2024, the highest in any year since the establishment of the agency in 2002.
The Commission also recovered a whooping N364 billion alongside several million in foreign currencies, luxury duplexes and apartments, vehicles, cryptocurrencies and other valuable assets from various convicts, institutions and their collaborators, making it the single largest asset recovery in its history.
The anti-graft agency in its 2024 report detailed a breakdown of the sums recovered to include N364.5bn, $214.5m, £54,318.64, €31,265, and smaller amounts in various currencies including CAD $2,990, AUD$740.00, and CFA7,821,375. Others are UAE Dirham 170, RIYALS 5,115, W73,000, 105 Yen, GH¢225 and RAND 50.
The commission identified advance fee fraud (commonly known as ‘419’ in local parlance), money laundering, and cybercrime as the most common offences in 2024.
A summary of the assets included 173 vehicles, cash sums of N9,477,977,318.78, and $2,605,858.30. Others included cryptocurrencies of 13.37BTC worth about $572,992.86.
The monetary recoveries also included 5.97886094 ETHEREUM worth $13,353.06. 298.4770071 GREEN SATOSHI token worth $6 1,002.547631. USDT ($1,0022.22), the sum of N2,699,233. USDT in form TETHER COIN (USDT TRC-20).
The EFCC attributed its success to the dedication of its officers, strong leadership, and collaboration with local and international partners, such as the Federal Bureau of Investigation (FBI) and Interpol, who assist in tracing assets hidden overseas.
It reiterated its commitment to training and retraining of its staff, enhancing its collaboration with both local and international partners and harnessing technological innovations in both its enforcement and prevention efforts.
