The Economic and Financial Crimes Commission (EFCC) has secured the final forfeiture of a vast estate in Abuja, marking the largest single asset recovery in its history. The estate, spanning 150,500 square meters and containing 753 units, was located in the Lokogoma District of Abuja. This significant property was seized from a former high-ranking government official under investigation for money laundering. The EFCC’s spokesperson revealed that the estate was believed to have been fraudulently built with proceeds from unlawful activities.
The Federal Capital Territory (FCT) High Court, led by Judge Jude Onwuegbuzie, issued the final forfeiture order after the accused failed to prove the legitimacy of the property’s acquisition. The decision follows an earlier interim forfeiture order issued in November. The court ruled that the estate had been reasonably suspected of being acquired through illegal means, ultimately ordering its forfeiture to the Nigerian government.
According to EFCC Chairman Ola Olukoyede, asset tracing and recovery are pivotal in the agency’s efforts to deter financial crimes. This case serves as a major milestone in the EFCC’s anti-corruption efforts, demonstrating the agency’s capacity to seize illicitly obtained assets and return them to the public.
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EFCC Secures Final Forfeiture of Multi-Billion Naira Abuja Properties Linked to Fraud
