In 2024, Nigeria’s Economic and Financial Crimes Commission (EFCC) secured 4,111 convictions, marking its most successful year since its inception over two decades ago.
The EFCC processed 15,724 petitions, conducted 12,928 investigations, and prosecuted 5,083 cases. Lagos led with 685 convictions, followed by Enugu with 516 and Ibadan with 501.
The EFCC recovered nearly $500 million (approximately ₦50 billion) from fraud-related cases in 2024.
These funds were invested into the Nigerian Education Loan Fund (NELFUND), established under the Student Loans (Access to Higher Education) Act of 2024.
NELFUND aims to provide financial support to qualified Nigerians for tuition and other educational expenses. Additionally, the EFCC seized 931,052 metric tons of petroleum products, 975 real estate properties, and company shares.
Global Support
In a related development, the World Bank approved a $1.57 billion financing package for Nigeria to enhance its health and education sectors and support sustainable power development.
This underscores the international community’s faith in Nigeria, and its commitment to Nigeria’s progress.
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