The Economic and Financial Crimes Commission (EFCC) has achieved its single largest asset recovery since its establishment in 2003.
On Monday, the Federal Capital Territory High Court, presided over by Justice Jude Onwuegbuzie, ordered the final forfeiture of a massive estate located in the Lokogoma District of Abuja to the Federal Government.
The estate, situated on Plot 109 Cadastral Zone C09, spans 150,500 square metres and consists of 753 units of duplexes and other apartments.
According to the EFCC, the property was owned by a former high-ranking government official and was acquired through proceeds of corruption.
“The forfeiture of the property to the federal government by a former top brass of the government was pursuant to EFCC’s mandate and policy directive of ensuring that the corrupt and fraudulent do not enjoy the proceeds of their unlawful activities,” the EFCC stated.
The Commission relied on Section 17 of the Advance Fee Fraud And Other Fraud Related Offences Act No 14, 2006, and Section 44(2) B of the 1999 Constitution to secure the final forfeiture.
Justice Onwuegbuzie, ruling on the EFCC’s application, declared that the respondent failed to show valid cause as to why the property should not be forfeited.
“The property is hereby finally forfeited to the Federal Government,” the judge ruled.
The path to the final forfeiture began with an interim order issued by the same court on November 1, 2024.
The EFCC revealed that the government official who built the estate fraudulently is currently under investigation.
The forfeiture is part of a broader strategy by the EFCC to deprive individuals of the proceeds of crime. The Commission cited Part 2, Section 7 of the EFCC Establishment Act, which allows for investigations into properties deemed inconsistent with an individual’s legitimate income.
EFCC Chairman Ola Olukoyede emphasized the critical role of asset recovery in combating corruption.
Addressing the House of Representatives Committee on Anti-corruption, he stated, “To recover one billion naira is war. Asset recovery is pivotal in the anti-corruption fight, and one of the potent instruments for an effective fight is asset tracing and recovery.”
He warned that allowing individuals under investigation access to their illicit wealth enables them to undermine anti-corruption efforts.
“If you allow the corrupt to access the proceeds of their crime, they will fight you with it. Depriving them of these proceeds weakens their ability to resist prosecution,” Olukoyede said.
