By Ayomide Otitoju
The Economic and Financial Crimes Commission (EFCC) has announced its largest asset recovery to date, with the final forfeiture of an estate in Abuja measuring 150,500 square meters, containing 753 duplexes and other apartments.
Justice Jude Onwuegbuzie delivered the ruling on December 2, 2024, marking this as the EFCC’s most significant recovery since its establishment in 2003. The property, located at Plot 109, Cadastral Zone C09, Lokogoma District, Abuja, was seized from a former high-ranking government official who is currently under investigation by the EFCC.
The asset was forfeited to the federal government following the EFCC’s efforts to ensure that proceeds from unlawful activities are not enjoyed by the perpetrators. The agency relied on the provisions of the Advance Fee Fraud and Other Fraud-Related Offences Act, 2006, and Section 44(2) of the Nigerian Constitution to secure the forfeiture.
In his ruling, Justice Onwuegbuzie stated that the respondent had failed to provide adequate justification for retaining the property, which was suspected to have been acquired through illicit means. “The property is hereby finally forfeited to the federal government,” the judge ruled.
This final forfeiture follows an interim order obtained by the EFCC on November 1, 2024, and represents a significant step in the ongoing investigation into the corrupt activities of the government official responsible for the estate’s construction.
The EFCC emphasized the importance of asset recovery as part of its broader mandate to combat corruption and financial crimes. The Commission’s Chairman, Ola Olukoyede, has stressed that asset tracing and recovery are crucial in weakening corrupt individuals and preventing them from using illicitly acquired resources to obstruct justice.
The EFCC operates under the EFCC Establishment Act, which empowers it to investigate individuals and organizations suspected of economic and financial crimes, and seize assets that are believed to be proceeds of illegal activities.
This recovery serves as a milestone in the EFCC’s efforts to tackle corruption, aligning with President Bola Tinubu’s commitment to intensifying the fight against financial crimes in Nigeria.
