Nigeria’s Economic and Financial Crimes Commission (EFCC) has handed over ₦3,936,145,000 (Three Billion, Nine Hundred and Thirty-Six Million, One Hundred and Forty-Five Thousand Naira) in recovered illicit funds to the state-owned Nigeria National Petroleum Company (NNPC) Ltd.
The formal presentation occurred on Thursday at the EFCC headquarters in Abuja. It was delivered by the Commission’s Secretary, Mohammed Hammajoda, representing Executive Chairman Ola Olukoyede. According to an EFCC statement, the funds were recovered through diligent investigations that uncovered fraudulent activities by certain actors within the NNPC.
Hammajoda underscored the EFCC’s ongoing commitment to combating economic and financial crimes, noting the personal risks involved. “On behalf of the Executive Chairman, we will continue to put ourselves on the line to serve over 220 million Nigerians,” he stated, adding that colleagues have “paid the price” in the pursuit of the Commission’s mandate with “courage and integrity.”
Receiving the funds, NNPC’s Executive Vice President, Downstream, Mumuni Dagazau, expressed gratitude and described the recovery as a point of national pride. He noted that NNPC has consistently worked to correct systemic issues and valued the EFCC’s intervention. “We are very excited. For me, this is a great day for us. We will continue to rely on you for assistance,” Dagazau said.
The handover highlights coordinated efforts between Nigeria’s primary anti-graft agency and a critical state-owned enterprise to reclaim misappropriated public assets. It underscores the EFCC’s investigative reach into corporate fraud and signals a continued push to address financial malfeasance within key national institutions. For NNPC, the recovery supports broader reforms aimed at strengthening governance and financial accountability.
This restitution of stolen funds is part of Nigeria’s wider anti-corruption agenda, aimed at recovering assets lost to fraud and mismanagement. The successful collaboration between the EFCC and NNPC may set a precedent for future partnerships in safeguarding public resources and enhancing corporate integrity within the country’s oil and gas sector.
