Crime

EFCC Secures Largest Asset Recovery in History

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By Alexis Uchendu

The Economic and Financial Crimes Commission (EFCC), has achieved its most significant asset recovery since its inception in 2003, securing the final forfeiture of a massive estate in Abuja.

The property, located on Plot 109, Cadastral Zone C09, Lokogoma District, covers 150,500 square meters and includes 753 duplexes and apartments.

Justice Jude Onwuegbuzie of the Federal Capital Territory (FCT) High Court delivered the landmark ruling on December 2, 2024, ordering the estate’s forfeiture to the federal government.

The judgment came after the EFCC invoked the Advance Fee Fraud and Related Offenses Act and Section 44(2)(B) of the Nigerian Constitution, arguing that the property was acquired through illicit means.

“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,” Justice Onwuegbuzie stated in his ruling.

The forfeiture process began with an interim order on November 1, 2024.

The estate is linked to a former high-ranking government official currently under investigation by the EFCC.

This historic recovery underscores the EFCC’s commitment to combating corruption and reinforces the federal government’s resolve to establish a more transparent and accountable system for all Nigerians.

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