Think tank Arewa has commended President Bola Ahmed Tinubu and the Economic and Financial Crimes Commission (EFCC) for recovering about N1.233 trillion and securing 10,872 convictions in corruption and financial crimes cases in the last 34 months.
The group’s coordinator, Muhammad Alhaji Yakubu, described the figures as an indication that the Tinubu administration was making progress in its fight against corruption and financial crimes.
Yakubu said the latest record presented by the EFCC showed that the administration’s anti-corruption campaign was yielding tangible results despite resistance from those involved in corrupt practices and illicit activities.
“As President Bola Ahmed Tinubu’s administration fights corruption, corruption also fights back. But President Tinubu has mastered corruption,” Yakubu said.
He commended the President and EFCC Chairman, Ola Olukoyede, for their commitment to the anti-corruption campaign and urged them to maintain the momentum until corruption was substantially eliminated from the country.
“We are congratulating Mr. President and the Chairman of EFCC. They must continue the good fight until corruption is totally eliminated from our dear country, Nigeria,” he said.
Yakubu’s comments followed the presentation of a management report by Olukoyede in Abuja, covering the activities of the commission from October 2023 to July 2026.
According to the EFCC Chairman, the commission recovered assets and cash valued at approximately N1.233 trillion between October 2023 and June 2026.
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The recoveries also included $684.48 million, £373,905.78 and €9.34 million, as well as funds recovered in other currencies.
The commission, he added, obtained 10,872 convictions during the period, while more than 40 staff were dismissed for corruption and financial misconduct.
Olukoyede further revealed that about N288.1 billion in federal and state tax revenue was recovered through the implementation of existing tax obligations and measures aimed at strengthening government revenue mobilization.
He said the recoveries comprised N173.2 billion in federal tax revenue and N114.9 billion attributed to the state internal revenue services.
The EFCC Chairman emphasized that the funds represented existing liabilities recovered through enforcement, rather than new taxes imposed on individuals and companies.
He added that approximately N257.2 billion was recovered for Federal Ministries, Departments and Agencies (MDAs).
On the enforcement of foreign exchange laws, Olukoyede said the commission recorded 234 cases involving unlicensed foreign exchange houses, with 73 convictions obtained during the period.
He explained that the application was aimed at supporting the regulatory reforms of the Central Bank of Nigeria and promoting a more formal, transparent and compliant retail foreign exchange market.
“The overall goal is to support a more formal, transparent and compliant retail foreign exchange market and close vulnerable channels to illicit financing, speculation and round-tripping,” he said.
Yakubu, however, urged the Federal Government and the EFCC to remain relentless in the anti-corruption campaign, stressing that sustained enforcement, recovery of stolen assets and institutional reforms were necessary to strengthen the Nigerian economy and restore public confidence in government institutions.
He said the Arewa Think Tank would continue to support initiatives aimed at strengthening institutions and promoting accountability, transparency and good governance in the country.
Yakubu also commended Olukoyede for dismissing over 40 staff members over alleged corruption and financial malpractices in the last three years.
He described the move as a bold demonstration of leadership, discipline and commitment to accountability, and emphasized that the anti-graft agency must set an example in the fight against corruption.
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