EFCC Secures Nigeria’s Largest Asset Forfeiture

The Economic and Financial Crimes Commission (EFCC) has achieved its largest asset recovery to date with the final forfeiture of a sprawling estate in Abuja comprising 753 duplexes and apartments on 150,500 square meters of land.

The property, located on Plot 109, Cadastral Zone C09, Lokogoma District, was forfeited to the federal government following a ruling by Justice Jude Onwuegbuzie, today.

In a statement issued by Dele Oyewale, Head of Media and Publicity, the EFCC described the recovery as a milestone in its fight against corruption.

The ruling, secured under Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and Section 44(2)(b) of the 1999 Constitution, marks a significant victory in ensuring that proceeds of unlawful activities are returned to the state.

Justice Onwuegbuzie, delivering the judgment, noted that the respondent failed to prove that the estate was acquired through lawful means. “The property, reasonably suspected to have been acquired with proceeds of unlawful activities, is hereby finally forfeited to the federal government,” he ruled.

The path to the final forfeiture began with an interim order issued on November 1, 2024. The estate, built by a former top government official under investigation by the EFCC, represents proceeds of fraudulent activities, according to the Commission.

The EFCC emphasised that asset recovery remains a critical tool for dismantling the financial power of corrupt individuals.

Executive Chairman of the EFCC, Mr. Ola Olukoyede, has repeatedly highlighted the importance of asset recovery in the anti-corruption fight.

Speaking recently to the House of Representatives Committee on Anti-Corruption, he stated, “Recovering stolen assets is not just a deterrent but a way to weaken the corrupt. If you allow suspects access to the proceeds of their crimes, they’ll use those resources to fight back. That’s why we combine investigation with asset tracing from the outset.”

The estate’s forfeiture underscores the EFCC’s operational framework, as mandated by its Establishment Act. The Act requires the Commission to trace and attach assets acquired through economic and financial crimes, secure interim forfeiture orders, and escalate these to final forfeitures where warranted.

The EFCC reaffirmed its commitment to President Bola Ahmed Tinubu’s anti-corruption agenda, stating that this landmark recovery demonstrates the administration’s determination to curb corruption and recover stolen wealth for national development