EFCC Secures 3,175 Convictions, Recovers N156bn

Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has disclosed that the commission secured 3,175 convictions and recovered N156, 276,691,242.30 between May 29, 2023, and May 29, 2024, when President Bola Ahmed Tinubu assumed office.

He stated this in Abuja yesterday at the launch of the Zero Tolerance Club at the University of Abuja, Gwagwalada.

In a statement last night, the commission’s spokesperson, Dele Oyewale said Olukoyede, who was represented EFCC’s secretary, Mohammed Hammajoda, said the agency 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 Crypto Currency.

The chairman stated that though the EFCC performed impressively throughout the year, youths’ involvement in internet fraud continued to pose serious concerns to every stakeholder in the anti-graft war.

“Despite 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 university students to avoid internet fraud, stressing that a 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 intelligence.

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.