The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has announced a reward of between 2.5 and 5 per cent for whistleblowers who provide information leading to the recovery of Nigerian assets stolen and concealed abroad.

Olukoyede made the disclosure on Wednesday while speaking at an international economic crime symposium in Cambridge, where he urged individuals with credible information on illicitly acquired Nigerian assets to come forward.

He said successful whistleblowers could earn substantial financial rewards, potentially becoming multi-millionaires from recovered assets.

According to him, the EFCC has recovered and secured forfeiture of cash and assets worth more than $500 million for the Nigerian government in less than three years under his leadership.

Olukoyede also highlighted Nigeria’s non-conviction-based asset forfeiture framework, which enables the EFCC to pursue the forfeiture of assets suspected to be proceeds of crime without waiting for a criminal conviction. He noted that similar mechanisms exist in countries such as Australia and Canada.

The framework, he said, has facilitated the recovery and forfeiture of assets including aircraft, universities, estates and residential properties linked to suspected proceeds of crime.

Among notable cases, Olukoyede cited the recovery of 752 housing units allegedly linked to former Central Bank of Nigeria Governor, Godwin Emefiele, as well as the forfeiture of 48 of 57 properties traced to former Attorney-General of the Federation, Abubakar Malami.

The EFCC chairman stressed that successful asset recovery depends on strong intelligence gathering, investigative capacity and enhanced international cooperation to track and recover illicit funds moved across borders.