The Economic and Financial Crimes Commission (EFCC) achieved a significant milestone in its fight against corruption and financial crime yesterday, as it secured a court order to seize a massive estate containing 753 duplexes in Abuja. This forfeiture represents the largest asset recovery ever undertaken by the EFCC since its establishment in 2003.
The estate, located in the Lokogoma area of Abuja, spans 150,500 square meters and includes not only the duplexes but other apartment units as well. Despite the scale of this operation, the identity of the individual behind the estate remains shrouded in secrecy. According to sources, a final security clearance is required to reveal the estate’s owner, who is reportedly a “former top government official.” The EFCC filed the application for the forfeiture without naming the individual involved, opting instead to focus on the asset rather than the person behind it.
An insider shared that even the affidavit presented to the court did not mention the identity of the estate’s owner, suggesting a deliberate decision by the EFCC to prioritize the recovery of the property over the exposure of the individual’s identity. It was also noted that in sensitive cases like this, the focus can either be on the assets or the owner, and in this instance, the commission chose to seize the estate.
The ruling, issued by Justice Jude Onwuegbuzie, was made final after the EFCC provided compelling evidence that the property had likely been acquired through unlawful means. Justice Onwuegbuzie determined that the respondent failed to provide sufficient justification for the property, which was reasonably suspected of being funded by corrupt practices. As a result, the property was officially forfeited to the federal government.
In a statement, EFCC spokesperson Dele Oyewale explained that this seizure was the result of an investigation into a government official who had fraudulently constructed the estate. The final forfeiture followed an interim order granted on November 1, 2024, and was aligned with the EFCC’s mission to strip wrongdoers of the ill-gotten gains from their illegal activities. He also highlighted that this move is in line with the commission’s policy mandate to ensure that those found guilty of economic and financial crimes cannot enjoy the benefits of their criminal actions.
The legal basis for this action was grounded in Section 17 of the Advance Fee Fraud and Other Fraud-Related Offences Act of 2006, as well as Section 44(2)(b) of the 1999 Nigerian Constitution, which empowers the EFCC to seize properties suspected to be proceeds of crime.
Mr. Oyewale emphasized that asset recovery plays a crucial role in the EFCC’s strategy to combat corruption. He quoted EFCC Chairman Mr. Ola Olukoyede, who recently discussed the importance of asset tracing and recovery in the agency’s efforts. Olukoyede stressed that depriving corrupt individuals of their ill-gotten wealth is a key tactic in weakening their ability to resist anti-corruption efforts. He explained that asset tracing begins simultaneously with investigations to ensure that once suspects are apprehended, their assets can also be seized, thereby preventing them from using these resources to fuel further fraudulent activities.
The EFCC’s work in recovering this estate marks a major achievement and serves as a clear message that illicit wealth will not be tolerated. The agency’s focus on asset recovery aligns with its overarching goals of ensuring that the corrupt cannot continue to benefit from their crimes, and this recovery stands as a testament to the agency’s continued success in the fight against economic and financial crimes under President Bola Ahmed Tinubu’s administration.
Gathered by: Onoro Promise Edesiri