In a historic ruling on Monday, December 2, 2024, the Economic and Financial Crimes Commission (EFCC) secured the final forfeiture of an expansive estate in Abuja, marking its largest asset recovery since its inception in 2003.
The estate, situated on Plot 109 Cadastral Zone C09, Lokogoma District, spans 150,500 square meters and comprises 753 duplexes and apartments. Justice Jude Onwuegbuzie of the Federal High Court ruled that the property, suspected to have been acquired with proceeds of unlawful activities, be forfeited to the federal government.
“The respondent has failed to show cause as to why the property, reasonably suspected to have been acquired through illicit means, should not be forfeited. Therefore, it is hereby finally forfeited to the federal government,” Justice Onwuegbuzie declared.
The forfeiture was made possible under Section 17 of the Advance Fee Fraud and Other Fraud-Related Offences Act, 2006, and Section 44(2)(B) of the 1999 Constitution. The EFCC had earlier secured an interim forfeiture order for the estate on November 1, 2024.
This recovery underscores the EFCC’s mandate to trace and recover assets acquired through economic crimes. The former government official behind the fraudulent acquisition of the property is currently under investigation.
EFCC Chairman, Mr. Ola Olukoyede, emphasized the importance of asset recovery in the Commission’s anti-corruption strategy. Speaking to lawmakers recently, he noted, “Asset recovery is pivotal in fighting corruption. Depriving the corrupt of their ill-gotten wealth weakens their capacity to resist justice and serves as a deterrent to others.”
The Abuja estate forfeiture not only highlights the EFCC’s commitment to enforcing financial accountability but also reflects the government’s resolve under President Bola Ahmed Tinubu to combat corruption.
The successful forfeiture of the Abuja estate represents a significant victory in the fight against corruption. It reaffirms the EFCC’s dedication to ensuring that the proceeds of unlawful activities are recovered and returned to the state, strengthening Nigeria’s anti-corruption framework.
