Over 5,000 fraud petitions received, N60 billion recovered in first 100 days – EFCC Chair, Olukoyede

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has revealed that within the first 100 days of assuming office, the commission received more than 5,000 fraud petitions and successfully recovered loot amounting to N60 billion.

Olukoyede shared this information on Saturday during the 20th-anniversary lecture of the Human and Environmental Development Agenda Resources Centre in Lagos, where he served as the guest lecturer.

He highlighted that out of the 5,000 petitions received, the EFCC has initiated investigations into 3,000 cases. Emphasizing the challenges faced by the commission, Olukoyede pointed out the limited resources and staff strength, with less than 4,800 personnel handling issues for a population exceeding 150 million.

The chairman stressed the importance of collective responsibility in addressing corruption issues and emphasized that the EFCC’s role is to investigate and present facts to the court, leaving the judgment to the appropriate authorities.

Since assuming office on October 12, 2023, following his appointment by President Bola Tinubu, Olukoyede reported securing convictions for 700 cases and recovering over N60 billion and $10 million in less than four months. He underscored the magnitude of corruption, noting that for every billion recovered, a trillion might have been stolen.

It’s worth noting that Ola Olukoyede took over the position of EFCC chairman from Abdurasheed Bawa, who was appointed by ex-President Muhammadu Buhari.