EFCC Secures Record Asset Recovery as Ex-Govt Official Forfeits 753 Duplexes in Abuja

EFCC Secures Record Asset Recovery as Ex-Govt Official Forfeits 753 Duplexes in Abuja

By Fly Cable News reports

The Economic and Financial Crimes Commission (EFCC) has announced the recovery of a vast estate in the Lokogoma District of Abuja, covering 150,500 square meters and consisting of 753 duplexes and apartments. This marks the commission’s largest asset recovery since its establishment in 2003. The property was forfeited on December 2, 2024, following a ruling by Justice Jude Onwuegbuzie, in connection with a former high-ranking government official’s alleged illicit activities.

The EFCC emphasized that the forfeiture, carried out under relevant laws, deprives the individual of assets obtained through fraudulent means. EFCC Chairman, Ola Olukoyede, described asset recovery as a vital tool in the fight against corruption and financial crime, underscoring its importance in weakening suspects by denying them the proceeds of their illegal activities. This achievement is seen as a significant milestone in the EFCC’s operations and a reflection of President Bola Ahmed Tinubu’s commitment to combating corruption.