The Senate, at its plenary on Tuesday commended President Bola Tinubu for the outstanding performance of the Economic and Financial Crimes Commission (EFCC) in 2024, describing the agency’s achievements as a major milestone in Nigeria’s anti-corruption crusade.
By Haruna Salami
The Senate, at its plenary on Tuesday commended President Bola Tinubu for the outstanding performance of the Economic and Financial Crimes Commission (EFCC) in 2024, describing the agency’s achievements as a major milestone in Nigeria’s anti-corruption crusade.
This was sequel to a motion, titled “Commendation of the EFCC for 2024 Achievements”, sponsored by Senator Emmanuel Udende (Benue North-East).
Presenting the motion, Senator Udende who is the chairman Senate Committee on Anti-Corruption said the EFCC, Nigeria’s frontline anti-graft agency, had in 2024 received 15,724 petitions, opened 12,928 case files, filed 5,081 cases in court, and secured 4,111 convictions, the highest in a single operational year since its establishment.
He noted that the convictions led to the recovery and forfeiture of assets and funds across multiple currencies, including currency amount recovered that included:
Naira (₦) ₦364,597,370,151.35,
US Dollar ($) $214,513,439.55
Pounds (£) £54,318.64, Euro (€) €31,265.00, Canadian Dollar (CAD) $2,950.08, Australian Dollar (AUD) $7,821,375.00, CFA ₣470.00,
UAE Dirham (AED) 5,115.00, Riyals 73,000.00, Yen ¥225.00, Ghana Cedi ₵50.00, South African Rand (SAR) 50.
Udende further disclosed that the Commission also recovered and forfeited 173 automobiles, 78 electronic items, 14 landed properties, 784 estates, one hotel, and two gold chains, along with digital assets such as 13.37 Bitcoin (BTC), 97.68 Ethereum (ETH), and over ₦2.6 million in Tether (USDT).
“The EFCC has demonstrated courage, patriotism, and efficiency in discharging its mandate, thereby strengthening Nigeria’s financial framework,” he said.
Contributing to the debate, Senator Onyeka Nwebonyi (Ebonyi North) described the Commission’s performance as “a revolution in anti-corruption enforcement,” noting that more than ₦500 billion was recovered in the past two years and over 7,000 convictions secured since inception.
“It is time to set the record straight and commend the EFCC for the beautiful job being done,” Nwebonyi said. “Mr. President deserves credit for appointing the right people for the right jobs, which has produced the right results.”
Other lawmakers, including Senators Salim Mustafa (Kwara Central), Orji Uzor Kalu (Abia North), and Aliyu Ekra (Central), also applauded President Bola Ahmed Tinubu for his continued support and reform-driven approach to strengthening anti-corruption institutions.
Senator Mustafa, however, raised concerns about the EFCC’s retention of 2-3% of recovered funds, stressing the need for strict adherence to constitutional provisions requiring presidential and legislative approval for any expenditure.
Responding, Senate President Godswill Akpabio clarified that the law mandates the President, not the EFCC, to seek Senate approval before spending from recovered funds.
“For every one conviction, there are at least ten deterrents,” Akpabio said. “The EFCC’s role is not just prosecution but prevention. We must recognize their achievements while strengthening oversight.”
Speaking with some journalists after plenary, Udende said he doesn’t subscribe to the proposal that there should be another agency to manage what EFCC recovers because “the agency knows the source of the property or the money they have recovered, adding that they are in a better position to manage these assets.
“What we have to do as legislature is to ensure that they manage these assets properly. That’s all. We don’t need to duplicate agencies. You know, we have always been crying against huge government. So if you create another agency, you are bringing a bottle neck to you.
The session ended on a somber note as lawmakers observed a minute’s silence in honor of the Minority Leader’s two children, who reportedly died in separate incidents within 48 hours. The Senate extended heartfelt condolences to the bereaved family.
Read more on Newsdiaryonline Nigeria
