The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has assured Nigerians that no assets recovered by the agency will be mismanaged while he remains in office.

He made the pledge while rejecting calls for a single body to manage all recovered assets across government agencies.

Olukoyede argued that creating one central agency would be impractical given the large volume of recoveries nationwide. He said the Proceeds of Crime Act already places responsibility on each recovering agency to account for what it seizes and how the assets are used.

According to him, the current system, combined with relevant sections of the EFCC Act, is the most effective model. He noted that the commission publishes recovery details on its website within 24 hours and submits its annual report to the National Assembly on time every year.

The EFCC chairman disclosed that the agency recovered more than ₦1.23 trillion, $684.48 million and other foreign currencies between October 2023 and June 2026. Out of this, about ₦661.32 billion and $492.37 million have already been released to rightful beneficiaries.

He also reported that the commission secured forfeiture orders covering over 10,000 tangible assets, including properties, vehicles and other items. Proceeds from the disposal of finally forfeited assets amounting to about ₦12.07 billion have been paid to the Federal Government.

Olukoyede restated his commitment to transparency and accountability in handling recovered proceeds of crime.

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