{"id":72449,"date":"2025-08-07T10:52:32","date_gmt":"2025-08-07T10:52:32","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=72449"},"modified":"2025-08-07T10:52:58","modified_gmt":"2025-08-07T10:52:58","slug":"efcc-targets-abuja-real-estate-in-anti-corruption-drive","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/08\/07\/efcc-targets-abuja-real-estate-in-anti-corruption-drive\/","title":{"rendered":"EFCC Targets Abuja Real Estate in Anti-Corruption Drive"},"content":{"rendered":"<p><strong>By Onilede Titi Faith<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>The Economic and Financial Crimes Commission (EFCC), has announced plans to launch a thorough investigation into the real estate sector, beginning with the Federal Capital Territory (FCT), to uncover the true owners of properties and determine if some were acquired through illicit means.<\/p>\n<p>&nbsp;<\/p>\n<p>EFCC Chairman, Ola Olukoyede, made this known on Wednesday in Abuja during a keynote address at a \u201cPolicy Dialogue on the Critical Issues Affecting Nigeria\u2019s Real Estate Ecosystem.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>Olukoyede expressed concern that several estates in Abuja and other parts of the country may have been purchased with stolen public funds or proceeds from transnational crimes.<\/p>\n<p>&nbsp;<\/p>\n<p>He noted that the Money Laundering (Prevention and Prohibition) Act, 2022 empowers the EFCC to trace financial flows within the real estate industry.<\/p>\n<p>&nbsp;<\/p>\n<p>The anti-graft agency said it will partner with industry stakeholders to ensure a credible audit and investigation process.<\/p>\n<p>&nbsp;<\/p>\n<p>Sector representatives at the event underscored the need for reliable data, including comprehensive property records and ownership registries, to aid transparency and curb suspicious transactions.<\/p>\n<p>&nbsp;<\/p>\n<p>Olukoyede also reaffirmed EFCC\u2019s commitment to supporting legitimate real estate enterprises.<\/p>\n<p>&nbsp;<\/p>\n<p>He urged banks to review lending rates, currently as high as 30% and consider single-digit alternatives to foster growth, boost job creation, and encourage transparency in the sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Onilede Titi Faith &nbsp; The Economic and Financial Crimes Commission (EFCC), has announced plans to launch a thorough investigation into the real estate sector, beginning with the Federal Capital Territory (FCT), to uncover the true owners of properties and determine if some were acquired through illicit means. &nbsp; EFCC Chairman, Ola Olukoyede, made this [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":72450,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[177],"tags":[],"class_list":["post-72449","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-abuja-reports"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/72449","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=72449"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/72449\/revisions"}],"predecessor-version":[{"id":72451,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/72449\/revisions\/72451"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/72450"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=72449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=72449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=72449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}