753 Duplexes Forfeited in EFCC’s Biggest Asset Recovery
The Economic and Financial Crimes Commission (EFCC) has achieved its largest asset recovery since its establishment in 2003. On Monday, December 2, Justice Jude Onwuegbuzie ordered the final forfeiture of a 150,500-square-metre estate in the Lokogoma District of Abuja to the federal government.
The estate, located on Plot 109, Cadastral Zone C09, comprises 753 duplexes and apartments allegedly built with proceeds of corruption by a former government official.
Although the name of the individual under investigation has not been disclosed, the EFCC said the forfeiture was a significant step toward ensuring that corrupt individuals do not enjoy the fruits of their unlawful activities.
Justice Onwuegbuzie ruled that the respondent failed to provide sufficient evidence to justify ownership of the property.
“The property, which has been reasonably suspected to have been acquired with proceeds of unlawful activities, is hereby finally forfeited to the federal government,” the judge declared.
The final forfeiture follows an interim order granted on November 1, 2024, as part of an ongoing investigation by the EFCC. The case was built on Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act of 2006, as well as Section 44(2)(B) of Nigeria’s 1999 Constitution, which allows the federal government to confiscate assets linked to corruption.
EFCC Chairman Ola Olukoyede has emphasised the critical role asset recovery plays in combating corruption.
“If you understand the intricacies involved in financial crimes investigation and prosecution, you will discover that to recover one billion naira is war,” Olukoyede told members of the House of Representatives Committee on Anti-Corruption during a recent briefing.
The chairman added that the EFCC’s strategy now includes simultaneous asset tracing and investigation.
“The moment we begin an investigation, we begin asset tracing. If you allow the corrupt to have access to the proceeds of their crime, they will fight you with it. So, one of the ways to weaken them is to deprive them of the proceeds of their crime,” he explained.
The EFCC’s Establishment Act further empowers the agency to investigate individuals whose lifestyles or properties appear inconsistent with their legitimate sources of income. According to Olukoyede, asset recovery serves as both a disincentive for corruption and a means to strengthen the anti-corruption fight.
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The Commission described this recovery as a major milestone in its mission to uphold accountability and transparency in Nigeria.
