Justice Jude Onwuegbuzie, on Monday, December 2, 2024, issued a ruling ordering the final forfeiture of a 150,500-square-meter estate in Abuja, consisting of 753 units of duplexes and apartments, to the federal government.
The estate, located on Plot 109, Cadastral Zone C09, Lokogoma District, is the largest asset recovery ever made by the Economic and Financial Crimes Commission (EFCC) since its establishment in 2003.
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The forfeiture was a result of investigations into a former top government official suspected of using proceeds from unlawful activities to develop the estate.
Justice Onwuegbuzie, in his 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.”
This landmark ruling followed an interim forfeiture order issued on November 1, 2024. The EFCC based its case on Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and Section 44(2)(B) of the 1999 Constitution of the Federal Republic of Nigeria.
The agency’s Executive Chairman, Mr. Ola Olukoyede, has emphasized that asset recovery is a crucial strategy in combating corruption and financial crimes. Addressing members of the House of Representatives Committee on Anti-Corruption, Olukoyede explained, “To recover one billion naira is war. That’s why our modus operandi involves starting asset tracing simultaneously with investigations. If you allow those under investigation to retain proceeds of their crimes, they will use it to fight back.”
The EFCC’s Establishment Act underscores the importance of asset recovery, granting the agency authority to investigate the assets of individuals whose lifestyles and properties exceed their lawful income.
This process includes obtaining interim and final forfeiture orders through the courts to ensure that unlawfully acquired assets are returned to the government.
