The EFCC recovered nearly $500 million in 2024, seized assets, and secured over 4,000 convictions. Some funds were reinvested, but Nigeria still ranks 140th on Transparency International’s Corruption Index.

Nigeria's Economic and Financial Crimes Commission (EFCC) has announced that it recovered nearly $500 million in proceeds of crime last year. This recovery effort is a key part of the agency’s ongoing anti-corruption campaign, which was launched under the administration of President Bola Tinubu.

In addition to the financial recoveries, the commission also seized over 931,000 metric tonnes of petroleum products, 975 properties, and company shares. These efforts reflect the EFCC's intensified crackdown on financial crimes and illicit asset accumulation.

According to a report published on Monday, the EFCC also secured more than 4,000 criminal convictions in 2024, marking its highest conviction rate since its establishment more than two decades ago. The agency further stated that some of the recovered funds have been reinvested into government projects to support national development.

For decades, Nigeria has struggled with entrenched corruption, which many experts and citizens believe has significantly contributed to widespread poverty and economic instability. The country currently ranks 140th out of 180 nations on Transparency International's latest Corruption Perceptions Index, underscoring the persistent challenge of graft within the nation.