Reps hail EFCC, NFIU for recovering ₦566bn, $411m, securing 3,175 convictions

The House of Representatives has commended the Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU) for recovering more than ₦566 billion, $411 million and 1,502 properties, as well as securing 3,175 convictions in the fight against financial crimes.

The praise was delivered on Monday by the Chairman of the House Committee on Financial Crimes, Hon. Ginger Onwusibe, during the 2025 budget performance review and the 2026 budget defence of both agencies.

Onwusibe also lauded the agencies for their role in Nigeria’s recent removal from the Financial Action Task Force (FATF) grey list, describing it as a significant milestone that highlights the country’s strengthened anti-money laundering and counter-terrorism financing measures.

He said the delisting would boost Nigeria’s global standing, attract foreign investment, improve access to credit, expand trade opportunities and enhance financial stability.

According to him, the EFCC accounted for the recovery of the funds and properties and the convictions recorded as of October 2025, while the NFIU supported the outcomes through improved financial intelligence and inter-agency collaboration.

“These achievements reflect the leadership of EFCC Chairman, Ola Olukoyede, and NFIU Director, Hafsat Abubakar Bakari, alongside the dedication of their personnel,” he said.

While acknowledging the progress made, the lawmaker emphasised the need for professionalism, transparency and accountability in the agencies’ operations, noting that Nigerians expect tangible results from the anti-corruption campaign.

He described the period as critical for the country, adding that all stakeholders must work together to address economic challenges and improve citizens’ welfare.

Onwusibe said the 2026 federal budget prioritises infrastructure, food security, macroeconomic stability, job creation and human capital development, but stressed that effective implementation would determine success. He also referenced the International Monetary Fund’s projection of 4.4 per cent economic growth for Nigeria in 2026, driven by ongoing reforms and increased domestic demand.

He reaffirmed the 10th Assembly’s commitment to strengthening the legal framework against financial crimes, disclosing that the committee had reviewed four key bills, including proposed amendments to the EFCC Act, the Money Laundering (Prevention and Prohibition) Act and the Proceeds of Crime Act. The reports, he said, would soon be presented to the House for consideration.

Regarding the 2026 budget proposals of the EFCC and NFIU, Onwusibe assured that the committee would ensure proper funding while focusing on enhancing investigative and prosecutorial capacity, asset recovery, international cooperation, institutional development and tackling emerging threats such as cybercrime and virtual assets.

“These agencies play a vital role in safeguarding Nigeria’s economic stability and security, and they must be adequately supported while maintaining strict accountability,” he added.