The Economic and Financial Crimes Commission, EFCC, has achieved its largest asset recovery since its establishment in 2003, following the final forfeiture of a 150,500-square-metre estate in Lokogoma District, Abuja.
The estate, located on Plot 109 Cadastral Zone C09, consists of 753 units of duplexes and apartments.
Justice Jude Onwuegbuzie of the Federal High Court, Abuja, on Monday, 2 December 2024, granted the final forfeiture order.
In his ruling, he stated, “The respondent has not shown cause as to why he should not lose the property, which has been reasonably suspected to have been acquired with proceeds of unlawful activities. The property is hereby finally forfeited to the federal government.”
The forfeiture was sought under Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act 2006 and Section 44 (2) B of the 1999 Constitution.
EFCC investigators believe the estate was fraudulently constructed by a former senior government official, who is currently under investigation.
The case began with an interim forfeiture order issued on 1 November 2024.
According to the EFCC, the action is in line with Section 7 of the EFCC Establishment Act, which empowers the Commission to investigate and seize properties acquired unlawfully.
The Commission’s Chairman, Ola Olukoyede, emphasised the importance of asset recovery in anti-corruption efforts.
Speaking recently before the House of Representatives Committee on Anti-corruption, he said, “If you allow the corrupt to access the proceeds of their crimes, they will fight you with it. One way to weaken them is to deprive them of the proceeds of their crimes.”
The EFCC reiterated that asset recovery remains a cornerstone of President Bola Ahmed Tinubu’s administration’s anti-corruption agenda, noting that this recovery demonstrates its resolve to combat economic and financial crimes effectively.
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