EFCC Chairman: Only 60% of Stolen Funds Can Be Recovered After Theft

EFCC Chairman Ola Olukoyode has said only about 60 per cent of stolen funds can be recovered once the money has been taken, stressing the need to prevent financial crimes before they occur.
Olukoyode made the disclosure on Friday during the inauguration of the Economic and Financial Crimes Commission’s new zonal office in Awka, Anambra State.
The EFCC chairman said his experience in tackling financial crimes had shown that recovering stolen assets after the fact remains difficult. He therefore described prevention as the most effective way to fight corruption and fraud.
“I have discovered that when money has been stolen, the best you can recover is 60 percent,” Olukoyode said at the event.
He urged Nigerians to play a greater role in the fight against corruption by reporting suspected cases of fraud and other financial crimes to the EFCC.
Olukoyode said the Commission’s presence in Anambra was aEFCC stolen funds recoverylso aimed at supporting the state’s economic development. He said the new office would strengthen the EFCC’s operations and its engagement within the state.
The EFCC has continued to emphasise prevention, investigation and recovery as key parts of its mandate against economic and financial crimes. Olukoyode’s comments highlight the challenges investigators face when attempting to trace and recover funds after they have already been diverted.
He called on citizens to cooperate with the Commission and provide information that could help authorities detect suspected corruption and fraud early, rather than waiting until funds have already been lost.