The Economic and Financial Crimes Commission (EFCC) has revealed that many of the abandoned estates across the Federal Capital Territory (FCT), Abuja, are linked to civil servants who allegedly used stolen public funds to build them.
The Chairman of the EFCC, Ola Olukoyede, made the disclosure during a policy dialogue in Abuja, organised by Law Corridor, where he expressed concern over the rising number of unoccupied and incomplete estates in the capital.
“It will shock you that some of these estates have been abandoned for 10 to 20 years. Most were funded by civil servants who stole public funds. Once they exit service and the money stops coming, they abandon the project,” Olukoyede said.
He noted that the EFCC has set up a special task force to trace the ownership of suspicious properties nationwide. Already, 15 estates are facing forfeiture proceedings, and more investigations are ongoing based on new intelligence.
“Some of you in this room may own some of these estates. We are coming for you,” he warned, addressing lawyers and real estate professionals.
The EFCC boss also cautioned legal and real estate practitioners against being used as tools for money laundering, stressing that unethical practices in the sector hinder economic development.
Olukoyede further criticised Nigeria’s cash-based economy, saying it encourages corruption and makes it easier for public officials to hide illicit wealth. He questioned how a civil servant earning less than one million naira monthly could afford a mansion worth N500 million.
He called for reforms in property financing, stricter oversight, and transparency in real estate dealings to tackle the growing trend of illicit asset accumulation.