Nigeria’s Economic and Financial Crimes Commission (EFCC) reported the recovery of nearly $500 million in proceeds of crime over the past year, alongside securing more than 4,000 criminal convictions, marking the highest figures since the agency’s establishment over two decades ago.
As Africa’s largest oil producer, Nigeria has long battled systemic corruption, which many believe fuels poverty across the nation. The EFCC, tasked with investigating and prosecuting financial crimes, stated in a report on Monday that a portion of the recovered funds had been redirected to government projects.
Nigeria ranks 140th out of 180 countries on Transparency International’s Corruption Perception Index, reflecting ongoing challenges in tackling financial misconduct.
Beyond cash recoveries, the EFCC disclosed that it seized 931,052 metric tons of petroleum products, 975 real estate assets, and company shares in its continued efforts to combat economic crimes.
