The Economic and Financial Crimes Commission (EFCC) recorded 4,111 convictions in 2024, marking the highest number in a single operational year since its establishment.
According to a document obtained by The PUNCH on Sunday, the commission also recovered substantial funds across multiple currencies, including:
$214.5 million
N364.6 billion
£54,318
€31,265
Additional amounts in Canadian dollars, Australian dollars, CFA, UAE Dirham, Riyals, Won, Yen, Ghanaian Cedis, and Rand.
Beyond monetary recoveries, the EFCC also seized significant assets, including 70 tons of unidentified solid minerals, shares worth over N1.05bn, and various cryptocurrencies such as Bitcoin, Ethereum, and Green Satoshi Tokens.
The commission highlighted that some recovered funds have been reinvested by the Federal Government into initiatives benefiting Nigerians.
Most Common Cases in 2024
The EFCC noted that advance fee fraud, money laundering, and cybercrime were the most prevalent offenses investigated in 2024.
Several socio-economic factors contributed to these crimes, including:
Rising unemployment
A growing informal economy
Weak regulatory frameworks
The pursuit of quick wealth, particularly among youths
The agency also raised concerns about the increasing sophistication of cybercriminals, who now leverage AI-driven fraud, deepfake technology, and advanced phishing schemes to carry out illicit activities.
The EFCC reaffirmed its commitment to strengthening investigative efforts across its zonal directorates and enhancing the capacity of its prosecutors and the judiciary to combat financial crimes.
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