Table of Contents
Table of Contents
- Federal Government Reports Major Recoveries Since May 2023
- Collaboration Among Security and Intelligence Agencies
- Commitment to National Security and Anti-Corruption
- Monetary Recoveries: A Diverse Portfolio of Currencies
- Asset Recovery: Properties and Institutional Landmarks
- Utilization of Recovered Funds for Social Development
- Supporting Government Agencies Through Asset Allocation
- Looking Ahead: Sustaining Momentum in Asset Recovery
Federal Government Reports Major Recoveries Since May 2023
On Monday, October 3, the Federal Government announced substantial recoveries in both cash and assets since President Bola Tinubu took office in May 2023. This update was provided during a Joint Security Press Briefing held in Abuja, focusing on recent developments in security, anti-corruption efforts, and regulatory enforcement across Nigeria.
Collaboration Among Security and Intelligence Agencies
The briefing was organized by the National Orientation Agency (NOA) under the leadership of Director General Lanre Issa-Onilu, in partnership with the Office of the National Security Adviser and key security, defense, and intelligence bodies. The event aimed to highlight the operational successes achieved by the Tinubu administration from September through October 2025.
Commitment to National Security and Anti-Corruption
Issa-Onilu emphasized that these accomplishments underscore the government’s steadfast dedication to safeguarding citizens, combating corruption, and ensuring the integrity of Nigeria’s food and pharmaceutical supply chains. These priorities remain central to the administration’s agenda.
Monetary Recoveries: A Diverse Portfolio of Currencies
The Economic and Financial Crimes Commission (EFCC) has recovered an impressive sum totaling ₦566.3 billion, alongside $411.6 million, £71,306, €182,877, CAD 5,510, and AUD 740. Additional currencies recovered include ¥89,859, ₹1,300, CFA 8,381,375, AED 70, SAR 310,265, GH₵225, ZAR 50, and ₩73,000, reflecting the broad scope of the anti-corruption drive.
Asset Recovery: Properties and Institutional Landmarks
Beyond cash, the EFCC has reclaimed 1,502 properties over the past two years-402 in 2023, 975 in 2024, and 125 so far in 2025. Noteworthy among these are the final forfeiture of 753 duplex units in Lokogoma, Abuja, and the transfer of Nok University to become the Federal University of Applied Sciences in Kachia, Kaduna State. These recoveries represent significant strides in reclaiming illicitly acquired assets.
Portions of the recovered funds have been strategically reinvested into vital social programs, including the Students Loan Scheme and the Consumer Credit Scheme, with over ₦100 billion allocated to these initiatives. This reinvestment aims to empower citizens and stimulate economic growth.
Supporting Government Agencies Through Asset Allocation
Recovered assets have also been distributed to various government bodies such as the Niger Delta Development Commission (NDDC), Asset Management Corporation of Nigeria (AMCON), Federal Inland Revenue Service (FIRS), and the National Health Insurance Authority. Several properties have been repurposed as office spaces to enhance operational efficiency within these agencies.
Looking Ahead: Sustaining Momentum in Asset Recovery
These achievements reflect a robust framework for accountability and transparency under the Tinubu administration. As Nigeria continues to strengthen its anti-corruption mechanisms, ongoing recoveries and strategic deployment of assets are expected to further bolster national development and public trust.
