EFCC Channels Over N100 Billion into Student Loans and Consumer Credit Schemes
The Economic and Financial Crimes Commission (EFCC) says it has deployed not less than N100 billion from the over N566.9 billion in criminal recoveries achieved over the past two years into the government’s student loan and consumer-credit programmes.
According to the commission’s Director of Media & Publicity, Wilson Uwujaren, the funds have been invested in the key social-investment initiatives that formed part of the Bola Tinubu administration’s electoral commitments.
Recovered Assets Also Allocated to Government Agencies
Uwujaren added that beyond cash recoveries, the EFCC has forfeited property assets and redistributed them to several government agencies including the Niger Delta Development Commission (NDDC), Asset Management Corporation of Nigeria (AMCON), Federal Inland Revenue Service (FIRS) and the National Health Insurance Authority (NHIA).
In the past two years the EFCC has:
Received over 19,318 petitions from October 2023 to September 2025.
Investigated 29,240 cases in that period, filed 10,525 in court and secured 7,503 convictions.
Recovered approximately N566.32 billion and US$411.57 million from illicit activities.
Forfeited 1,502 real-estate properties, including 753 duplexes in Lokogoma-Abuja and assets formerly linked to Nok University now transformed to the Federal University of Applied Sciences, Kachia in Kaduna State.
Broader Enforcement Moves
Under Chairman Ola Olukoyede, the commission has driven initiatives targeting currency racketeering and dollarisation, launched a task force operating across regional directorates, and stepped up its cybercrime enforcement and youth-sensitisation efforts.
On the internal discipline front, 55 officers have been dismissed in the last two years for misconduct; this underscores the chairman’s stated zero-tolerance stance on unethical behaviour.
With a significant chunk of recovered assets now flowing into social investment schemes and public-service agencies, the EFCC says its two-year performance under Olukoyede demonstrates measurable progress in both asset recovery and judicial outcomes.