EFCC announces Largest Asset Recovery in Its History, Top government official forfeits 753 duplexes

The Economic and Financial Crimes Commission (EFCC) announced its largest asset recovery since its establishment in 2003 following the final forfeiture of a massive estate in Abuja.

  • Justice Jude Onwuegbuzie of the Federal Capital Territory High Court ruled that an estate spanning 150,500 square meters and comprising 753 duplexes and apartments in the Lokogoma District of Abuja be forfeited to the federal government. The property, linked to a former high-ranking government official, was found to have been acquired through proceeds of unlawful activities.

In its statement, the EFCC emphasized that the forfeiture aligns with its mandate to ensure that corrupt individuals do not benefit from their illicit gains. The commission relied on Section 17 of the Advance Fee Fraud and Other Fraud-Related Offences Act, 2006, and Section 44(2)(B) of the Nigerian Constitution to support its case.

Justice Onwuegbuzie noted that the respondent failed to justify ownership of the property, which was reasonably suspected to have been acquired through corrupt means. The judge declared the property “finally forfeited to the Federal Government.”

This landmark decision follows an interim forfeiture order secured by the EFCC on November 1, 2024. The EFCC further revealed that investigations into the government official behind the estate are ongoing.

EFCC Chairman Ola Olukoyede highlighted the importance of asset recovery in the fight against corruption, describing it as a critical deterrent. Addressing the House of Representatives Committee on Anti-Corruption, Olukoyede stated:

“Recovering assets from corruption is as challenging as the investigation itself. Asset tracing must begin alongside investigations, as depriving suspects of access to their unlawful proceeds weakens their ability to resist prosecution.”

He reiterated that asset recovery remains a cornerstone of the EFCC’s strategy, as it ensures that the fraudulent are held accountable and prevented from using illicit wealth to undermine justice.

2 Trackbacks / Pingbacks

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