The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyode, has revealed that only 60 percent of stolen funds can be recovered once they have been misappropriated. This statement was made during the inauguration of the EFCC Zonal Office in Awka, Anambra State, on Friday.

Olukoyode highlighted the challenges faced by the Commission in recovering stolen assets, stating that the best outcome in such cases is a recovery rate capped at 60 percent. He emphasized that the most effective strategy in combating corruption and fraud in Nigeria is to prevent these crimes from occurring in the first place.

During his address, Olukoyode urged citizens to actively participate in the fight against corruption by reporting any suspected cases to the EFCC. He noted that public involvement is crucial in enhancing the Commission's efforts to tackle corruption and improve the economic landscape of the country.

The establishment of the new zonal office in Awka is part of the EFCC's initiative to strengthen its operations and expand its reach within the region. Olukoyode expressed optimism that the office would play a significant role in boosting the economy of Anambra State by addressing corruption-related issues more effectively.

As the EFCC continues its mandate to fight financial crimes, the Chairman's remarks serve as a reminder of the ongoing challenges in asset recovery and the importance of preventive measures in reducing corruption in Nigeria.