NewStats: 3,261,918 , 8,175,552 topics. Date: Saturday, 31 May 2025 at 03:42 AM 6k6t5y

EFCC announces biggest asset recovery as govt official forfeits estate with 753 duplexes

The Economic and Financial Crimes Commission, EFCC, on Monday announced the single largest asset recovery since its inception in 2003.

The development followed a ruling by Justice Jude Onwuegbuzie of the Federal Capital Territory High Court on the final forfeiture of an Abuja estate measuring 150,500 square metres and containing 753 units of duplexes and other apartments.

According to the EFCC, the estate, located on Plot 109 Cadastral Zone C09, Lokogoma District, Abuja, belonged to a government official.

“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 statement added.

The EFCC said it 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 Constitution of the 199 Constitution of the Federal Republic of Nigeria to push its case.

Ruling on the Commission’s application for the final forfeiture of the property, Justice Onwuegbuzie held that the respondent have not shown cause as to why he should not lose the property, “which has been reasonably suspected to have been acquired with proceeds of unlawful activities”.

“The property is hereby finally forfeited to the Federal Government,” the judge declared, according to the statement.

The statement added, “The road to the final forfeiture of the property was paved by an interim forfeiture order, secured before the same Judge on November 1, 2024.

“The government official which fraudulently built the estate is being investigated by the EFCC. The forfeiture of the asset is an important modality of depriving the suspect of the proceeds of the crime.

“The justification for the forfeiture is derived from Part 2, Section 7 of the EFCC Establishment Act, which stipulates that the EFCC “has power to cause investigations to be conducted as to whether any person, corporate body or organization has committed any offence under this Act or other law relating to economic and financial crimes and cause investigations to be conducted into the properties of any person if it appears to the Commission that the person’s lifestyle and extent of the properties are not justified by his source of income.”

The statement added that EFCC chairman, Ola Olukoyede, has repeatedly described asset recovery as pivotal in the fight against corruption, describing it as a major disincentive against the corrupt and the fraudulent.

Addressing of the House of Representatives Committee on Anti-corruption recently, he said, “If you understand the intricacies involved in financial crimes investigation and prosecution you will discover that to recover one billion naira is war.

“So, I told my people that the moment we start investigation we must also start asset tracing because asset recovery is pivotal in the anti-corruption fight; and one of the potent instruments that you can deploy as an anti-corruption agency for an effective fight is asset tracing and recovery.

“If you allow the corrupt or those that you are investigating 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.”

https://dailypost.ng/2024/12/02/efcc-announces-biggest-asset-recovery-as-govt-official-forfeits-estate-with-753-duplexes/

For a crime and recovery of such magnitude, this Press Release by the EFCC does not make any meaning without the name of the criminal perpetrator.

😅

Fountein:
Wow, that’s huge

Nigerian politicians don't play when it comes to looting!

One person??.....753 duplexes and other apartment

but Nigeria is broke.....and pple need to pay more taxes.

Sad part is....another person will still re-loot...

It's a corruption and embezzlement climate

And who is this person, why is the person not in Jail,

What of the name?

The statement added that EFCC chairman, Ola Olukoyede, has repeatedly described asset recovery as pivotal in the fight against corruption, describing it as a major disincentive against the corrupt and the fraudulent.

Kudos to the EFCC.

One person’s loot o. 😮


I suspect say na Goddy do this thing

Just one Man...?

True picture of a greedy african persons...

This kind of looting can only come from Oil theft, oil bunkery, .. oil and gas..

A staff of NNPCL....

Hmmm

No name?

What's the name of the particular government official? Do they have to veil his Identity?

Modified:
The so-called government official is former CBN governor, Mr. Godwin Emefiele (according to Sahara Reporters)

I saw the video it so disappointing that property worth 500billion naira do your calculations
753 buildings with land

High Profile Stealing Without An Atom of Conscience, Tinubu Government is The Most Corrupt Government in History

And na one person get that kind thing

Na waa... Atiku is the person. See super looting

Govt official that doesn't HV name

Sometimes when I drive around Abuja and I see cars and various estates and complexes, I go nod my head say naija no fit better again.... At dis point it's like corruption is already in our DNA, everywhere u look corruption....

Ebami kigbe OLE

We need a name to the looted funds

A government official that has no name
Probably a fake news

Damn

What's more surprising is the so called EFCC keeping the person anonymous. What a shitty corntree we have here

Who is the government official

shiwex:
And who is this person, why is the person not in Jail,

In China people like that are committed to death by hanging but in Naija even to name the person na wahala.

The govt official no get name, people that parades 50 dollars yahoo boys are scared of naming a culprit that diverted billions of naira to his name ke...


I sell herbs tho

Why can't they mention the person's name? Thieves shielding thieves from public.

That's how one FIRS official has 15 duplexes in an estate (name withheld) in Lagos.

When we are serious, this country will work

Rubbish.

No name?

Why are EFCC always covering the faces and identity of this bigwigs, mainwhile when it comes to the downtrodden trying on how to survive. The case is different

The major investment of corrupts government officials is property.

Government needs to link every property in Nigeria to NIN to know who own what and what's their income that enabled them acquired such.