‘The EFCC recovered N156 billion and obtained 3,175 convictions within a year

By: Nwakaji Peace Martins

The Economic and Financial Crimes Commission (EFCC) has secured 3175 convictions and recovered N156, 276,691,242.30 between May 29, 2023, and May 29, 2024, upon the assumption of office by President Bola Ahmed Tinubu.
The Chairman of the commission, Mr. Ola Olukoyede, made this announcement in Abuja during the inauguration of the Zero Tolerance Club at the University of Abuja, Gwagwalada, Abuja.
Olukoyede, represented by the Secretary to the Commission, Mohammed Hammajoda, revealed that the EFCC also managed to recover $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.

Despite the impressive performance of the EFCC during the year, the growing involvement of young individuals, including students, in cybercrime, commonly known as yahoo-yahoo, remains a significant concern for all stakeholders in the fight against corruption.
Olukoyede urged University students to steer clear of internet fraud, emphasizing that being convicted of fraud would have long-lasting negative effects on their futures.
He further emphasized that there is no excuse for cybercrime under any circumstances.
“There is no rationale that can justify the acceptance of yahoo-yahoo. Contrary to what some may believe, being a fraudster is not indicative of creativity or intelligence. As students, you are expected to channel your creative abilities into constructive activities rather than engaging in defrauding others of their resources,” he stated.

The Director of the Public Affairs Department of the Commission, Wilson Uwujaren, explained that the Commission’s presence at the University was not only to establish the Zero Tolerance Club but also to rally young people against the scourge of corruption.
In his address, the Vice-Chancellor of the University of Abuja, Professor Abdulrasheed Na’Allah, urged the youth to be productive and refrain from tarnishing the reputation of their families. He encouraged them to follow the example of their peers in developed nations, where talents are utilized for innovation rather than involvement in cybercrime. He commended Olukoyede and the Commission’s management for selecting the University of Abuja as the home of a Zero Tolerance Club.
During a presentation on the consequences of cybercrime, Assistant Commander of the EFCC, ACEII David Ife, advised young people to direct their efforts towards beneficial endeavors for themselves and the nation, highlighting that criminal activities yield no positive outcomes.
The Head of the Enlightenment and Reorientation Unit of the Commission, ACE11 Aisha Mohammed, explained that the establishment of the club in Universities aimed to groom, nurture, and empower future leaders to be proactive and serve as ambassadors of the Commission through education, guiding them to promote the core values of anti-corruption in their families, communities, societies, and the nation as a whole.
The launch concluded with the provision of manuals and magazines from the Commission to the Club’s Patron, along with the presentation of a signage to the University.