The Economic and Financial Crimes Commission (EFCC) has secured the final forfeiture of a vast estate in the Federal Capital Territory (FCT), Abuja, on Monday. Justice Jude Onwuegbuzie of the FCT High Court granted the order following a forfeiture petition filed by the EFCC.
In a statement, EFCC spokesperson Dele Oyewale revealed that the estate measures 150,500 square meters and includes 753 duplexes and other apartments, making it the largest single asset the EFCC has recovered since its establishment in 2003. While the individual who forfeited the property remains unnamed, Oyewale confirmed it belonged to a “former top brass of the government.”
The path to this final forfeiture was initiated by an interim forfeiture order granted by the same judge on November 1, 2024. The government official behind the fraudulent development of the estate is currently under investigation by the EFCC. The forfeiture of the asset is seen as a key step in depriving the suspect of proceeds from illegal activities.
The EFCC’s legal action was supported by Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and Section 44(2)B of the 1999 Constitution of Nigeria. According to the EFCC’s founding act, asset recovery is a crucial aspect of its mandate.
In his ruling, the judge stated that the respondent failed to provide any valid reason to retain ownership of the property. EFCC Chairman Ola Olukoyede emphasized that asset recovery plays a vital role in combating corruption and financial crimes, serving as a powerful deterrent against fraudulent practices.
