The anti-corruption agency, the Economic and Financial Crimes Commission (EFCC), under the leadership of Olanipekun Olukoyede, earned the commendation of the Senate on Tuesday over its achievements in 2024.
Lawmakers across parties commended the agency for discharging its professional mandate diligently and conscientiously.
The applause was on the heels of a motion titled ‘Commendation of the EFCC for 2024 Achievements’ sponsored by Senator representing Benue North East, Emmanuel Udende.
Presenting his motion, Senator Udende, who incidentally is the Chairman of the Senate Committee on Anti-Corruption, recalled that the agency filed 5,081 cases in court, and secured 4,111 convictions, the highest since its establishment.
The lawmaker further told his colleagues that the agency recovered over ?460 billion and millions in foreign currencies, including dollars, pounds, euros, and other denominations, as well as hundreds of vehicles, properties, estates, and digital assets such as Bitcoin, Ethereum, and Tether.
He said: ‘The EFCC has demonstrated courage, patriotism, and professionalism in discharging its mandate.
‘This performance has strengthened Nigeria’s financial framework and deepened public trust in anti-corruption institutions.’
In their individual contributions, the lawmakers commended President Bola Tinubu for his commitment to institutional reforms that have improved anti-corruption enforcement.
Senator representing Ebonyi North, Onyeka Nwebonyi, described the EFCC’s performance as ‘a revolution in anti-corruption enforcement.
‘It’s time to acknowledge the results and give credit where it’s due.
‘President Tinubu deserves commendation for appointing the right people and providing the right support.’
Senator representing Kwara Central, Saliu Mustapha, however, expressed strong reservations about the agency’s retention of 2-3% of recovered funds, without recourse to constitutional provisions that require presidential and legislative approval before such funds can be spent.
He was, however, countered by Senate President Godswill Akpabio, who clarified that the law empowers only the President, not the EFCC, to seek Senate approval before expending any recovered proceeds.
He said: ‘For every one conviction, there are at least ten deterrence.
‘The EFCC’s work is not only about prosecution but prevention. We must commend their success while ensuring proper oversight.’
Addressing journalists after plenary, Senator Udende rejected proposals for the creation of a separate agency to manage recovered assets, insisting that the EFCC remains best positioned for that role.
‘The EFCC understands the origin of every asset it recovers, so they’re in the best position to manage them.
‘Our duty as lawmakers is to ensure transparency and accountability – not to duplicate agencies and increase government bureaucracy.’