Public affairs analyst Chima Okoro has commended the Economic and Financial Crimes Commission (EFCC) under Chairman Ola Olukoyede, highlighting three major developments that have transformed the agency into a proactive, intelligence-driven institution. In a statement, Okoro credited the current leadership with shifting the EFCC away from reactive enforcement towards a prevention-first model built on intelligence gathering, asset recovery, and institutional compliance.
EFCC's Cybercrime Operations Draw International Attention
One of the defining achievements of Olukoyede's tenure, according to Okoro, is the EFCC's crackdown on transnational cybercrime networks. Intelligence-led operations resulted in the arrest of nearly 200 foreign nationals, including citizens of China, the Philippines, Indonesia, and Pakistan, who were allegedly involved in cross-border cybercrime activities. The analyst noted that the Commission's work against romance scams and other technology-enabled offences earned commendations from the United States Consulate and the Federal Bureau of Investigation (FBI). Several EFCC officers subsequently received certification from the FBI Cyber Division following joint operations and capacity-building programmes.
Asset Recovery and FATF Grey List Exit
On asset recovery, Okoro pointed to 'Operation Eagle Flush' as a concrete example of recovered assets being put to public use. Items seized from a cybercrime syndicate, including 501 double-step bunk beds and 939 mattresses, were transferred to the Federal Ministry of Education. He added that the Commission had remitted hundreds of billions of naira in recovered funds to the Federal Government. Okoro linked the EFCC's asset tracing and anti-money laundering efforts to Nigeria's removal from the Financial Action Task Force (FATF) grey list, calling it a significant development for investor confidence and the country's international standing.
Policy Reforms Under Olukoyede
On the policy front, the EFCC partnered with the Corporate Affairs Commission to enforce mandatory registration for Point of Sale (PoS) operators across the country, a measure aimed at reducing money laundering and the movement of illicit funds. Internal reforms targeting public enlightenment, intelligence capacity, and e-procurement compliance were also noted as part of the Commission's broader institutional overhaul. Olukoyede's leadership has attracted formal recognition, including the BusinessDay Excellence in Public Service Award and the National Transformation Award.
'The Commission is moving from chasing corruption after the fact to preventing it,' Okoro said, adding that the EFCC's evolving strategy is contributing to the restoration of Nigeria's credibility on the international stage.
