BTA2023 Nigeria’s Economic and Financial Crimes Commission (EFCC) announced that it recovered nearly $500 million in proceeds of crime in 2024 and secured over 4,000 criminal convictions, marking the highest number since the agency’s establishment over two decades ago.
Despite being Africa’s largest oil producer, Nigeria has long struggled with endemic corruption, which many citizens blame for the country’s widespread poverty and economic challenges.
In a report released on Monday, the EFCC stated that a portion of the recovered funds had been reinvested into government projects to support national development.
Key Recovery Figures
In addition to cash recoveries, the EFCC also seized:
| Asset Type | Quantity Seized |
|---|---|
| Petroleum Products | 931,052 metric tons |
| Real Estate Properties | 975 units |
| Company Shares | Unspecified |
Nigeria currently ranks 140 out of 180 on the latest Transparency International Corruption Perception Index, highlighting persistent governance challenges despite ongoing anti-corruption efforts.
