EFCC Under Fire: Operatives Caught Red-Handed Looting Seized Assets

The Economic and Financial Crimes Commission (EFCC) is facing mounting scrutiny after reports surfaced about the theft and mismanagement of exhibits by some of its operatives.....KINDLY READ THE FULL STORY HERE▶

Allegations involving stolen cash, gold bars, and other recovered assets have sparked public outrage and prompted internal investigations. In 2024, at least 27 EFCC officers were dismissed for various forms of misconduct, including fraudulent activities. On January 6, 2025, the agency’s spokesperson, Dele Oyewale, confirmed that an investigation is underway into a $400,000 theft claim allegedly involving a sectional head. Just two days later, 10 officers from the Lagos Zonal Command were detained over missing operational items, including gold bars worth over ₦1 billion and cash totaling between $350,000 and $400,000.

The scandal deepened on Wednesday when another officer at the Kaduna Zonal Office, identified as Polycarp, was accused of stealing over $30,000 and other valuable exhibits.

Despite the mounting evidence, the EFCC has remained silent on the incident, raising concerns about its internal oversight mechanisms.

A reliable security source described the situation as “highly disappointing,” attributing the thefts to rising poverty and poor living conditions within the agency. The source also criticized the EFCC’s failure to implement effective safeguards for securing exhibits.

“Allowing unfettered access to high-value items like cash and gold bars creates temptation. These items should either be stored in bank vaults or protected with multi-layered access controls within the EFCC premises,” the source explained to The PUNCH.

The source recommended that access to exhibit rooms should require the simultaneous presence of multiple credible officials, each holding a unique key. Dismissal and prosecution were proposed as deterrents to prevent further incidents.

The revelations have severely embarrassed the EFCC, tarnishing its reputation. A senior EFCC official acknowledged the damage caused by the misconduct, stating, “Our chairman is transparent, which is why these issues are being made public. However, it’s hurting our reputation.”

Security analyst Yemi Adeyemi emphasized that EFCC officials must uphold the highest standards of integrity in order to restore public confidence.