Nigeria’s Economic and Financial Crimes Commission (EFCC) announced that it recovered nearly $500 million in proceeds of crime last year, marking one of its most significant financial recoveries since its establishment over two decades ago. The agency also secured over 4,000 criminal convictions, the highest in its history, according to a report released on Monday.
As Africa’s largest oil producer, Nigeria has long struggled with widespread corruption, which many citizens blame for persistent poverty. The EFCC, responsible for investigating and prosecuting financial crimes, stated that part of the recovered funds had been reinvested into government projects.
Nigeria currently ranks 140th out of 180 countries on Transparency International’s Corruption Perception Index.
In addition to cash recoveries, the EFCC seized 931,052 metric tons of petroleum products, 975 real estate properties, and company shares as part of its anti-graft efforts.