Nigeria’s Economic and Financial Crimes Commission (EFCC) recovered nearly $500 million in stolen funds and secured over 4,000 criminal convictions in 2024, marking its highest success rate since its establishment over two decades ago. The agency’s crackdown on corruption also led to the seizure of 931,052 metric tons of petroleum products, 975 real estate properties, and numerous company shares. Some of the recovered funds were reinvested in government projects. Despite these gains, Nigeria ranks 140th on Transparency International’s Corruption Perception Index, reflecting ongoing challenges. As Africa’s largest energy producer, corruption remains a major obstacle to economic growth, but the EFCC’s aggressive pursuit signals a renewed commitment to holding offenders accountable.
Source: Reuters