The Chairman of the Economic and Financial Crimes Commission (EFCC) Ola Olukoyede on Monday, 31 August, 2026 disclosed that the Federal Government had approved the establishment of a national confiscation wallet where virtual assets recovered by law enforcement agencies would be kept, reports the gazellenews.com.
Olukoyede made this disclosure on Monday, 31 August, 2026 while addressing media executives and newsmen in Abuja, Nigeria’s seat of power.
“Today, now we have a national confiscation wallet. So if I confiscate virtual assets now, it’s a national wallet that we put into those,” he said.
Olukoyede further warned that the increasing use of cryptocurrency to move illicit funds required stronger technological capacity among financial and law enforcement institutions.
“When we are talking about cybercrime, please cooperate with us, understand the scope. Not just Yahoo. Some of the people you are calling Yahoo, see your young children; they are stealing on behalf of London, on behalf of public servants,” the EFCC boss said.
According to Olukoyede, the commission’s anti-corruption activities had also contributed significantly to revenue mobilisation, with federal and state tax recoveries amounting to approximately N288.1billionn during the period under review.
The ant-sleaze boss, who disclosed that the figure comprised about N173.2 billion in federal tax recoveries and N114.9 billion attributed to State Internal Revenue Services, also added that over 40 of its personnel were dismissed for alleged corruption and financial malpractice in the past two and a half to three years.
He added that some of the dismissed officials were already facing prosecution, while case files involving others were being prepared for prosecution.
