EFCC Recovered N156bn Fraud Proceeds, Secured 3,175 Convictions in One Year – Olukoyede

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

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

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

He further added that 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.

The Chairman of the commission, represented by the EFCC Secretary Mohammed Hammajoda, 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.

Director of Public Affairs, DCE, Wilson Uwujaren, 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.

On his part, Vice Chancellor University of Abuja, Abdulrasheed Na’Allah, 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.

The assistant commander of the EFCC David Ife, and Head of the Enlightenment and Reorientation Unit, Aisha Mohammed, 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.

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Comfort Samuel

I work with TV360 Nigeria, as a broadcast journalist, producer and reporter. I'm so passionate on what I do.

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