EFCC Makes Single Largest Asset Recovery Since Inception
*Assures it won't relent on its determination to ensure no criminal enjoys proceeds of crime.
The Economic and Financial Crimes Commission, EFCC, has successfully made the largest single asset recovery since its inception in 2003.
In a statement signed by made the commission's head, Media and Publicity, Dele Oyewale, the anti-graft commission noted that the feat was achieved Monday when the anti-graft commission won the final forfeiture order in a judgement given by Justice Jude Onwuegbuzie of an Abuja High Court over an estate measuring 150,500 square meters.
The estate, containing 753 Units of duplexes and other apartments, is located on Plot 109 Cadastral Zone C09, Lokogoma District, Abuja. EFCC said it relied on Section 17 of the Advance Fee Fraud And Other Fraud Related Offences Act No 14, 2006 and Section 44 (2) B of the Constitution of the 199 Constitution of the Federal Republic of Nigeria, the EFCC successfully won the final forfeiture of the property, owned by a former top brass of the government, to the federal government pursuant to its mandate and policy directive of ensuring that the corrupt and fraudulent do not enjoy the proceeds of their unlawful activities.
It added that the justification for the forfeiture is derived from Part 2, Section 7 of the EFCC Establishment Act, which stipulates that the EFCC “has power to cause investigations to be conducted as to whether any person, corporate body or organization has committed any offence under this Act or other law relating to economic and financial crimes and cause investigations to be conducted into the properties of any person if it appears to the Commission that the person’s lifestyle and extent of the properties are not justified by his source of income.”
According to the statement, Justice Onwuegbuzie while delivering the judgement, held that the respondent did not show cause as to why the said property should not be forfeited which he averred, “...has been reasonably suspected to have been acquired with proceeds of unlawful activities, the property is hereby finally forfeited to the federal government.”
The statement noted further that the road to the final forfeiture of the property was paved by an interim forfeiture order, secured before the same Judge on November 1, 2024. The unidentified government official which fraudulently built the estate is being investigated by the EFCC.
The forfeiture of the asset, EFCC assured, is an important modality of depriving the suspect of the proceeds of the crime.
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