What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024

What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC - Politics - Nairaland

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What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by InfoGuru118(op): 9:42am On Mar 10, 2025

The Economic and Financial Crimes Commission (EFCC) has revealed that over N50 billion recovered from fraud-related cases in 2024 has been invested into the Nigerian Education Loan Fund (NELFUND), ThisDay Nigeria reports.

In its 2024 statistical report released in Abuja, the anti-graft agency detailed its financial recoveries, which include N364.6 billion; $214.51 million; 54,319 euros; 31,265 pounds; CAD $2,990; and AUD $740. Additional recoveries were made in various currencies, including the CFA franc, UAE dirham, Saudi riyals, Japanese yen, Ghanaian cedi, and South African rand.

The EFCC stated that aside from financial recoveries, it achieved a record-breaking 4,111 convictions in 2024, the highest in its 22-year history.

The agency processed 15,724 petitions, conducted 12,928 investigations, and prosecuted 5,083 cases.

Lagos led in the number of convictions with 685, followed by Enugu and Ibadan, with 516 and 501 convictions, respectively.

The EFCC emphasized that a portion of the recovered funds was allocated to government initiatives aimed at benefiting Nigerians, particularly through the student loan scheme established under the Students Loans (Access to Higher Education) Act, 2024 by President Bola Tinubu.

https://thisdaynigeria.news/2025/03/10/we-invested-n50bn-recovered-from-fraudsters-into-student-loan-efcc/

9 Likes

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by Sirmwill: 10:06am On Mar 10, 2025

The money has been shared
If you know
You know

62 Likes 8 Shares

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by westfield: 10:44am On Mar 10, 2025

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by Amuluonyenaego: 10:45am On Mar 10, 2025

U go explain taya

8 Likes 2 Shares

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by Squere(m): 10:45am On Mar 10, 2025

You Re-Looooted it.
Aluta continua, Vitoria aceta

22 Likes 2 Shares

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by Amuluonyenaego: 10:45am On Mar 10, 2025

Sirmwill:
The money has been shared
If you know
You know

Exactly

11 Likes 2 Shares

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by Cmanforall: 10:45am On Mar 10, 2025

How did they invest in the so called Education fund?
Is that what the law says?
I hope it won't be looted again, but this time through Education.

Are Nigerians seeing the benefits of this NELFUND?

If there's allocation for this in Nigeria's budget, what then happens to it?

13 Likes 1 Share

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by Lamasta(m): 10:45am On Mar 10, 2025

Looters of loots have loot it

9 Likes 2 Shares

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by Ironfaceman(m): 10:47am On Mar 10, 2025

What ever you say can not be verified, like most Nigerian agencies, the truth will emerge when they fall out with their boss.

However good to know you're making a difference.

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by TooMuchStuff: 10:47am On Mar 10, 2025

Relooted

Cabal always know what to say to the public

Magu, Larmode, all relooted the booties of War against Corruption.

5 Likes

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by Gentleora: 10:47am On Mar 10, 2025

Relooted

I design websites at affordable prices

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by iwaeda: 10:48am On Mar 10, 2025

NEFUND grin

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by Designbest1: 10:48am On Mar 10, 2025

TooMuchStuff:
Relooted

Cabal always know what to say to the public

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by tunary(m): 10:48am On Mar 10, 2025

Only the gullible and naive ones believe Nigeria leaders. No word comes out of the mouth of Nigeria politicians that is true.

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by emkz: 10:51am On Mar 10, 2025

The ineptitude of EFCC needs to be talked about.

Apart from low-budget yahoo boys, which high profile economic thief has EFCC successfully prosecuted under the watch of the current EFCC head?

Someone convicted was released due to technicalities, EFCC did not re-open the case.

Someone was alleged to have paid school fees of his children, including a toddler, into 2033 and he has not been paraded like a yahoo boy.

What about the accountant general alleged to have stolen more than 109 billion naira?

What about the grass cutter who inflated grass cutting contract in IDPs?

Why is there no end to Theodore Orji's case?

There was a case of massive fraud in the ministry of humanitarian affairs, disaster management where three women were indicted. Until today, EFCC has not released a report. No arrest has been made either.

Dear EFCC, look at NDLEA. NDLEA secures convictions and asset seizures, and they don't even make noise like you. EFCC has turned to Economic and Financial Confiscation Corporation where you recover pittances and expect us to celebrate you.

You are failing in your mandate.

You must be told.

57 Likes 1 Share

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by walozanga(m): 10:52am On Mar 10, 2025

Hmmmm

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by Lovelyflower(f): 10:53am On Mar 10, 2025

And this revelation is coming after the money is already gone/ spent. Shouldn't we have known this plan before they go ahead?

3 Likes 2 Shares

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by VIPAFRICAN(m): 10:55am On Mar 10, 2025

Dis year nah Benin go top. Benin people don too suffer for Efcc hand.

2 Likes

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by uuzba(m): 10:55am On Mar 10, 2025

The EFCC stated that aside from financial recoveries, it achieved a record-breaking 4,111 convictions in 2024, the highest in its 22-year history.

Stupid idiot quote.
Were people suffering like this before 2024, that $1 went for almost N2000?
What do you expect?

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by TheBillyonaire: 10:55am On Mar 10, 2025

If only the yahoo boys were allowed to keep their 50 billion, may be they would have invested in real estate and rents would have reduced but the Economic and Financial Criminals have shared the 50 billion 'educationally'.

4 Likes

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by DatNiggaDaz: 11:01am On Mar 10, 2025

See the head of the useless parapo attack dog dishing more lies to fool MU-MU ticket chanters of Apc cretins

grin

3 Likes

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by porthouse7(f): 11:03am On Mar 10, 2025

This is serious

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by Kingzmate(m): 11:04am On Mar 10, 2025

TEFTFUND NA THEM kiss

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by melanch(m): 11:09am On Mar 10, 2025

Give scholarships

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by Ushman333: 11:13am On Mar 10, 2025

The people must feel the impact of our crude, the proceeds from crude oil is not just for politicians to enjoy... people deserve subsidies, welfare packages and availability of cheap food in the market, government must invest heavily in agriculture to ensure the price of food items drop drastically.

Re: What We Did With ₦‎50 Billion Recovered Fraud Proceeds In 2024 – EFCC by ELKHALIFAISIS(m): 11:15am On Mar 10, 2025

Recovered money do they even have the judiciary power to make use of it huh

? This country is fantastically corrupt.. imagine FBI telling Americans that they bought iPhones for operatives with the money they recovered from hushpuppy and go ..

2 Likes