The Economic and Financial Crimes Commission (EFCC) has achieved its largest single asset recovery since its inception in 2003, following the final forfeiture of an estate comprising 753 duplexes and apartments in Abuja.
The forfeiture, which was confirmed on Monday, December 2, 2024, by Justice Jude Onwuegbuzie of the Federal Capital Territory High Court, involved a property spanning 150,500 square meters in the Lokogoma District. The estate, located on Plot 109, Cadastral Zone C09, was forfeited to the federal government on the grounds that it was reasonably suspected to have been acquired with proceeds of unlawful activities.
According to a statement released on the EFCC’s official X account, the court’s decision was based on provisions in Section 17 of the Advance Fee Fraud and Other Related Offences Act, 2006, and Section 44(2)(B) of the 1999 Constitution.
Justice Onwuegbuzie, in delivering the ruling, stated, “The respondent has not shown cause as to why he should not lose the property, which has been reasonably suspected to have been acquired with proceeds of unlawful activities. The property is hereby finally forfeited to the federal government.”
The forfeiture order follows an earlier interim forfeiture secured by the EFCC on November 1, 2024. The estate is linked to a former senior government official who is currently under investigation for financial crimes.
The EFCC described the forfeiture as a significant milestone in its mission to ensure that individuals involved in corruption and financial crimes do not benefit from the proceeds of their illicit activities.
“This is the single largest asset recovery by the EFCC since its establishment in 2003,” the commission stated. “The forfeiture underscores our commitment to depriving suspects of the gains of corruption in line with our mandate.”
The commission’s efforts are supported by Part 2, Section 7 of the EFCC Establishment Act, which empowers it to investigate the properties of individuals whose lifestyles and assets appear inconsistent with their legitimate sources of income.
The recovery of the Lokogoma estate marks a critical step in the EFCC’s ongoing fight against economic and financial crimes in Nigeria.
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