*Nigeria’s Economic and Financial Crimes Commission describes its securing the final forfeiture of a large estate, in Abuja, as ‘pivotal in the fight against corruption, economic and financial crimes and a major disincentive against the corrupt and the fraudulent’ in the country

Isola Moses | 绿帽献妻

Marked as proceeds of financial crime with taxpayers’ money, the Economic and Financial Crimes Commission (EFCC) Monday, December 2, 2024, disclosed it secured the final forfeiture of 753 units of duplexes, and other apartments, in a large estate located in Abuja, Nigeria’s FCT.

The EFCC said Justice Jude Onwuegbuzie of the FCT High Court Monday granted the order, following a forfeiture application the anti-graft regulatory Commission had filed.

Dele Oyewale, Spokesperson of EFCC, in a statement, asserted that the Abuja estate, which measures 150,500 square metres and contains 753 units of duplexes and other apartments, is the largest single asset the Commission has recovered ever since it was established 2003.

Though the identity of the owner, who forfeited the sprawling housing estate was not disclosed, Oyewale however, stated that property belonged to a 鈥渇ormer top brass of the government鈥�.

The EFCC stated: “The road to the final forfeiture of the property was paved by an interim forfeiture order, secured before the same Judge on November 1, 2024.

鈥淭he government official which fraudulently built the estate is being investigated by the EFCC.”

The anti-graft agency also explained: “The forfeiture of the asset is an important modality of depriving the suspect of the proceeds of the crime.

鈥淚n this instance, the Commission relied on Section 17 of the Advance Fee Fraud And Other Fraud Related Offences Act No 14, 2006 and Section 44 (2) B of the Constitution of the 199 Constitution of the Federal Republic of Nigeria to push its case.

鈥淭he Establishment Act of the Commission places huge emphasis on asset recovery.鈥�

The statement further noted Justice Onwuegbuzie of the FCT High Court, in his judgement, held that the respondent did not show cause as to why he should not lose the property to the Federal Government of Nigeria.

In his remarks of the latest massive asset recovery, Oyewale stated Mr. Ola Olukoyede, Executive Chairman of EFCC, said that asset recovery was 鈥減ivotal in the fight against corruption, economic and financial crimes and a major disincentive against the corrupt and the fraudulent.”