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EFCC Recovers ₦156 Billion Within Tinubu’s One Year In Office




Arrests, Bail Must Follow Rule Of Law – EFCC Boss Tells Operatives

The Economic and Financial Crimes Commission (EFCC) has boasted about achieving a significant milestone in its fight against corruption between May 29, 2023, and May 29, 2024, under the leadership of President Bola Ahmed Tinubu.

Recently, the Executive Chairman of the anti-graft agency, Ola Olukoyede, revealed that the Commission secured an impressive 3175 convictions and recovered a staggering sum of N156,276,691,242.30.

Naija News reports that this development was revealed during the launch of the Zero Tolerance Club at the University of Abuja, Gwagwalada, Abuja, on Wednesday, May 29, 2024.

Olukoyede, represented by the Commission’s Secretary, Mohammed Hammajoda, also highlighted the EFCC’s recovery of various currencies, including $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 Cryptocurrency.


Despite these remarkable achievements, the chairman expressed concerns about the continued involvement of young people in internet fraud. This issue remains a serious challenge for all stakeholders involved in the fight against corruption.

“In spite of this commendable performance, the Commission is deeply worried about the increasing involvement of young people, including students, in cybercrime, popularly called Yahoo Yahoo. Hundreds of suspects are arrested monthly, with many of them ending up in jail,” he said.

He called on university students to avoid internet fraud, stressing that a conviction for fraud “is a burden that will leave a life-long scar on the fortunes of these youths.”


Olukoyede further stated that there was no justification for cybercrime anywhere.

“There is no justification that will make yahoo yahoo acceptable. Contrary to the impression in some quarters, being a fraudster is not synonymous with creativity or being smart.. As students, you are expected to channel your creative energies into useful engagements and not get entangled in cheating others of their resources,” he said.

On his part, the director of the Commission’s Public Affairs Department, DCE Wilson Uwujaren, said the Commission was at the University not only to inaugurate the Zero Tolerance Club but also to mobilise youths against the ills of corruption.


“The blessings that God has given Nigeria have not really translated into wealth for all of us. And for some of us who are a little bit older, we have cause to express worry about the future of our children and the future of our youths. This is why the EFCC is here today, not only to launch a Zero Tolerance Club for you but also to sensitize you on why it is important for you to embrace the fight against corruption,” he said.

The Club, he further explained, “is a platform of continuous conversation on why our nation has to fight and win the war against corruption”.

In his opening speech, the Vice Chancellor of the University of Abuja, Professor Abdulrasheed Na’Allah, emphasized the importance of productivity and urged the youth to refrain from engaging in activities that could tarnish their family’s reputation.

He encouraged them to follow the example of their counterparts in developed nations, where talents are utilized for creativity and innovation instead of participating in internet fraud.

Na’Allah expressed his appreciation to Olukoyede and the commission’s management for selecting the University of Abuja as a suitable location for the Zero Tolerance Club.

During his presentation on the negative impacts of cybercrime, Assistant Commander ACEII David Ife from the EFCC advised young individuals to redirect their energy towards productive endeavours that would benefit both themselves and the nation as a whole.

He emphasized that engaging in criminal activities would yield no positive outcomes.

Also, the Head of the Commission’s Enlightenment and Reorientation Unit, ACE11 Aisha Mohammed, explained that the club’s establishment in universities aimed to cultivate, nurture, and empower future leaders to become proactive and serve as ambassadors of the Commission.

She emphasized the importance of education in promoting the core values of anti-corruption, encouraging the youth to propagate these values within their families, neighbourhoods, schools, communities, societies, and the entire country.

The launch concluded with the club’s Patron receiving the commission’s Manuals and Magazines, along with signage presented to the school.

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