In a historic move, the Economic and Financial Crimes Commission (EFCC) has secured the final forfeiture of a massive estate in Abuja.
The estate, located in Lokogoma District, sits on 150,500 square meters and comprises 753 duplexes and apartments.
This represents the single largest asset recovery by the EFCC since its establishment in 2003.
Justice Jude Onwuegbuzie of the Federal High Court ruled on the case on Monday.
He ordered the final forfeiture of the estate to the federal government.
According to Justice Onwuegbuzie, the property was acquired with proceeds of unlawful activities.
“The respondent has not shown cause why he should not lose the property,” the judge stated.
This ruling follows an interim forfeiture order issued on November 1, 2024.
The EFCC had filed for the final forfeiture based on its investigations into the former top government official who allegedly built the estate fraudulently.
The commission relied on Section 17 of the Advance Fee Fraud and Other Fraud-Related Offences Act of 2006 and Section 44(2)(B) of the Nigerian Constitution.
Justice Onwuegbuzie affirmed that the law empowers the EFCC to confiscate assets acquired through suspicious means.
“Asset Recovery Is War” – EFCC Chairman
EFCC Executive Chairman, Mr. Ola Olukoyede, has reiterated the importance of asset recovery in the anti-corruption fight.
Speaking recently to the House of Representatives Committee on Anti-Corruption, Olukoyede emphasized the challenges of financial crimes investigations.
“If you understand the intricacies involved in financial crimes investigation and prosecution, you will discover that to recover one billion naira is war,” he explained.
He highlighted the EFCC’s strategy of starting asset tracing alongside investigations.
“The moment we begin an investigation, we begin asset tracing,” Olukoyede added.
This approach, he said, prevents suspects from using illicit wealth to obstruct justice.
Legal Foundations for the Forfeiture
The EFCC’s mandate to seize the estate stems from its powers under the EFCC Establishment Act.
Part 2, Section 7 of the Act empowers the commission to investigate properties not justified by a person’s income.
This provision allows the EFCC to trace and recover assets linked to economic and financial crimes.
Landmark Achievement for EFCC
This recovery marks a significant victory in the EFCC’s fight against corruption.
The seizure of the estate sends a strong message to those engaged in financial crimes.
The EFCC has been increasingly aggressive in pursuing high-profile cases.
In recent months, the commission has also secured forfeitures in several other major cases.
These include a $9.84 million theft case involving TOF Energy Company and the ongoing trial of a former state governor.
Public Reaction
Many Nigerians have praised the EFCC’s efforts in recovering stolen assets.
“This is what we need to fight corruption effectively,” said a resident in Abuja.
However, some critics remain skeptical about the commission’s ability to sustain such victories.
“We need to see more prosecutions, not just asset seizures,” a legal analyst commented.
Conclusion
The EFCC’s latest recovery is a milestone in its 21-year history.
The forfeiture of the sprawling Abuja estate underscores the commission’s resolve to clamp down on corruption.
As investigations continue, more recoveries are expected in the coming months.
This case serves as a reminder that no one is above the law in the fight against corruption.
