Unprecedented Asset Seizure: EFCC Reclaims 753-Unit estate in Abuja
The Economic and Financial Crimes Commission (EFCC) has recorded its largest asset recovery since its inception in 2003. A Federal High Court in Abuja, presided over by Justice Jude Onwuegbuzie, ordered the final forfeiture of an estate in the Lokogoma District of Abuja.
The estate, which spans 150,500 square meters, includes 753 duplexes and other apartments.
This property was linked to a former senior government official who is under investigation. The forfeiture followed the EFCC’s argument that the estate was acquired through proceeds of corruption.
The court ruled that the respondent failed to justify the legitimacy of the acquisition, thereby mandating its transfer to the federal government.
The EFCC utilized provisions from the Advance Fee Fraud Act and the 1999 Constitution to secure the ruling.
EFCC Chairman Ola Olukoyede emphasized the importance of asset recovery in combating corruption, describing it as a pivotal strategy to prevent suspects from using illicitly acquired resources to undermine investigations.
