The Real Estate Developers Association of Nigeria (REDAN) has applauded the Economic and Financial Crimes Commission (EFCC) for its unprecedented recovery of 753 duplexes and other properties in Lokogoma District, Abuja.
In a statement issued by REDAN President, Prince Akintoye Adeoye, the association praised the EFCC for its relentless efforts in addressing economic crimes, money laundering, and terrorism financing within Nigeria’s real estate sector.
“This recovery underscores the EFCC’s robust approach to tackling corruption and serves as a deterrent to unscrupulous activities in the industry,” Adeoye said.
He described the milestone as a record-breaking achievement, highlighting the EFCC’s steadfast dedication to combating corruption and reclaiming assets acquired through illicit means.
REDAN also commended EFCC Chairman, Mr. Ola Olukoyede, and his team for advancing the anti-corruption agenda of President Bola Ahmed Tinubu. The association urged the Federal Government to sell the recovered properties and allocate the proceeds to recapitalize the Federal Mortgage Bank of Nigeria (FMBN), enhancing its capacity to address the nation’s affordable housing needs.
Meanwhile, he also lauded Justice Jude Onwuegbuzie for granting the final forfeiture of the assets, reinforcing public confidence in the judiciary.
The association reaffirmed its commitment to fostering a real estate sector rooted in integrity, transparency, and sustainable development, while advocating for the passage of the Real Estate Regulation Bill to promote accountability in the industry.
