EFCC secures 3,175 convictions, recovers N156 billion in one year

The Executive Chairman of the Economic and Financial Crimes Commission EFCC, Mr. Ola Olukoyede, has disclosed that the Commission secured 3175 convictions and recovered N156, 276,691,242.30 (One Hundred and Fifty-six Billion, Two Hundred and Seventy-Six Million, Six Hundred and Ninety-One Thousand, Two Hundred and Forty-Two Naira, Thirty kobo) between 29 May 2023 and May 29, 2024 when President Bola Ahmed Tinubu assumed office.

He stated this in Abuja on Wednesday, 29 May 2024 at the launch of Zero Tolerance Club in University Abuja, Gwagwalada, Abuja.

Olukoyede, who spoke through the Secretary to the Commission, Mohammed Hammajoda, said the EFCC also recovered $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, 867631 Cryptocurrency.

Speaking further, the chairman stated that, though the EFCC put up impressive performance within the year, involvement of youths in internet fraud continued to pose serious concerns to every stakeholder in the anti-graft war.

“In spite of this commendable performance, the Commission is deeply worried about the increasing involvement of young people, including students, in cybercrime, popularly called yahoo yahoo. Hundreds of suspects are arrested monthly, with many of them ending up in jail,” he said.

He called on students of the University to stay away from internet fraud, stressing that conviction for fraud “is a burden that will leave a life-long scar on the fortunes of these youths”. He further stated that there was no justification for cybercrime anywhere.

“There is no justification that will make yahoo yahoo acceptable. Contrary to the impression in some quarters, being a fraudster is not synonymous with creativity or being smart.. As students, you are expected to channel your creative energies into useful engagements and not get entangled in cheating others of their resources,” he said.

Also speaking, Director of Public Affairs Department of the commission, DCE Wilson Uwujaren, said the Commission was at the University not only to inaugurate Zero Tolerance Club, but also to mobilise youths against the ills of corruption. “The blessings that God has given Nigeria has not really translated into wealth for all of us. And for some of us who are a little bit older, we have cause to express worry about the future of our children and the future of our youths. This is why the EFCC is here today not only to launch a Zero Tolerance Club for you, but to also sensitize you on why it is important for you to embrace the fight against corruption,” he said. The Club, he further explained, “is a platform of continuous conversation on why our nation has to fight and win the war against corruption”.

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In his welcome address, the Vice Chancellor of the University of Abuja, Professor Abdulrasheed Na’Allah, charged the youths to be productive and avoid doing anything that would destroy the good name or image of their families. He further tasked them to be productive like their counterparts in the developed nations where talents are used for creativity and innovation rather than indulging in internet fraud. He commended Olukoyede and the management of the commission for finding the University of Abuja worthy for a Zero Tolerance Club.

In his presentation on the ills of cybercrime, Assistant Commander of the EFCC, ACEII David Ife, advised youths to channel their energy towards productive and beneficial purposes for themselves and the nation at large, pointing out that criminality offered no gain to anyone.

Head, Enlightenment and Reorientation Unit of the Commission, ACE11 Aisha Mohammed, said the essence of the launch of the club in Universities was to develop, nurture and empower future leaders to be proactive and be “Ambassadors of the Commission through education and by guiding them to propagate the core-values of anti-corruption in their family, neighbourhood, schools, communities, societies and the country at large”.

The launch was concluded with the presentation of the Manuals and Magazines of the Commission to the Patron of the Club. A signage was also presented to the School.

Dele Oyewale

Head, Media & Publicity

May 29, 2024