Wale Igbintade The President of Global Peace Movement International, Dr Mike Uyi, has commended the Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, for what he described as a significant transformation in the Commission’s approach to combating economic and financial crimes and converting recoveries into tangible national assets. Uyi said the Federal Government’s decision to channel liquid funds recovered by the EFCC to the Nigerian Education Loan Fund (NELFUND) was a strong endorsement of the Commission’s recovery efforts under Olukoyede’s leadership and an investment in Nigeria’s future. According to him, the significance of the decision lies not only in the additional funding it would provide NELFUND, but also in the principle that resources recovered from financial crimes can be deliberately redirected towards building human capital and expanding opportunities for young Nigerians. Uyi said Olukoyede had increasingly demonstrated that the anti-corruption war should not end with arrests, prosecutions and convictions, but should ultimately produce measurable benefits for society through the recovery and productive deployment of assets and funds. He said the EFCC’s record under Olukoyede provided compelling evidence of this emerging approach. Between October 2023 and September 2025, the Commission received more than 19,000 petitions, conducted 29,240 investigations, filed 10,525 cases in court and secured 7,503 convictions. Within the same period, it recovered N566.3 billion, $411.5 million, £71,306.25, €182,877.10 and other foreign currencies traced to proceeds of financial and economic crimes, as well as 1,502 non-monetary assets, including 402 properties in 2023, 975 in 2024 and 125 in 2025. Uyi said the figures represented more than statistics, arguing that they demonstrated the growing capacity of the EFCC to tackle sophisticated financial crimes and recover assets that might otherwise have remained beyond the reach of government. He cited the Commission’s successful legal battle over assets linked to former Central Bank of Nigeria Governor, Godwin Emefiele, as one of the major examples of the anti-corruption drive under Olukoyede. The Supreme Court in July 2026 affirmed the final forfeiture of seven high-value properties, $2.045 million and share certificates linked to Emefiele to the Federal Government, restoring the forfeiture order earlier made by the Federal High Court after the case had passed through the Court of Appeal. Uyi said the outcome demonstrated the Commission’s determination to pursue cases involving high-profile individuals to their logical conclusion, describing it as evidence that “no office, position or status should place anyone beyond the reach of accountability.” He also pointed to the recent forfeiture of properties linked to former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, as another major milestone. A Federal High Court in Abuja in July 2026 ordered the final forfeiture of 48 properties linked to Malami after holding that the respondents had failed to dislodge the EFCC’s case that the properties were acquired through proceeds of unlawful activities. Uyi said the case was particularly significant because of the scale of the assets involved and demonstrated the Commission’s willingness to pursue forfeiture proceedings involving highly placed former public officials. He said such cases had helped strengthen public confidence in the anti-corruption campaign, adding that the ultimate test was whether assets recovered from alleged illicit activities could be preserved and deployed transparently for the benefit of Nigerians. Uyi also commended the EFCC’s intensified campaign against cybercrime, particularly its efforts to dismantle organised networks recruiting young Nigerians and foreign nationals into internet fraud. He noted that a major nationwide cybercrime operation led to the arrest of 792 suspects, including 193 foreign nationals, who were investigated, prosecuted and convicted, with the foreign nationals subsequently deported after serving their prison terms. According to Uyi, the operation showed that Olukoyede’s EFCC was confronting not only traditional financial crimes but also the increasingly sophisticated cybercrime ecosystem threatening Nigeria’s international reputation and exploiting young people. He said the significance of the operation became clearer when recovered proceeds of crime were subsequently redirected towards education. In July 2026, the EFCC handed over 1,452 recovered hostel items, comprising 501 double-step bunk beds, 939 mattresses and 12 wooden beds with mattresses, to the Federal Ministry of Education for use in schools across the country. Olukoyede said the items w
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