Abuja, Nigeria – The Chairman of the Economic and Financial Crimes Commission (EFCC), Olanipekun Olukoyode, has revealed the maximum amount the agency can typically recover from stolen public funds, offering a sobering assessment of the challenges involved in asset recovery.

Speaking on Friday, October 2, 2026, Olukoyode disclosed that the EFCC is often only able to recover a fraction of the funds stolen from the public treasury, despite its best efforts. He explained that by the time stolen money is traced, a significant portion has usually been dissipated, moved offshore, or converted into assets that are difficult to liquidate.

According to the EFCC chairman, the maximum recoverable amount from stolen funds is generally a modest percentage of the total sum involved, a reality that underscores the importance of prevention and deterrence over recovery alone.

“When funds are stolen, they are quickly moved and laundered. By the time we trace them, much of the money has been spent or hidden beyond reach. The maximum we can recover is often just a fraction of what was taken,” Olukoyode said.

He noted that the agency faces numerous obstacles in its recovery efforts, including complex international financial networks, legal bottlenecks in foreign jurisdictions, and the use of proxies and shell companies by corrupt individuals to conceal their ill-gotten wealth.

Olukoyode emphasized that while the EFCC remains committed to recovering stolen assets and prosecuting offenders, the most effective strategy is to prevent corruption from occurring in the first place. He called for stronger institutional safeguards, improved transparency in public financial management, and a culture of accountability across all levels of government.

The EFCC chairman also urged Nigerians to support the agency’s efforts by reporting suspicious activities and refusing to participate in or condone corrupt practices. He stressed that the fight against corruption requires a collective effort from all segments of society.

His comments come amid ongoing concerns about the scale of corruption in Nigeria and the effectiveness of anti-corruption agencies. Critics have argued that despite numerous high-profile arrests and prosecutions, the recovery of stolen funds has been limited, and convictions have been slow.

Olukoyode’s candid assessment highlights the inherent difficulties in combating financial crimes and the need for a more holistic approach that prioritizes prevention, education, and institutional reform.

The EFCC has reportedly recovered billions of naira in assets and funds since its inception, but the chairman’s remarks suggest that these recoveries represent only a small portion of the total amount lost to corruption over the years.