03 December 2024 , 22:08
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Nigerian anti-fraud agency makes historic asset recovery, seizing property linked to illegal activities by government officials.
Nigerian authorities have announced Monday their largest asset recovery to date, seizing a 150,500-square-meter estate that includes 753 duplexes and other apartments acquired through fraudulent and illegal activities by government officials.
The country’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), linked the property to a former high-ranking government official who is currently under its investigation.
The ruling, delivered by Justice Jude Onwuegbuzie, follows a successful application for the final forfeiture of the estate in the Lokogoma District, Abuja.
Justice Onwuegbuzie stated the respondent failed to justify retaining the property, which is suspected to have been acquired through unlawful means.
The forfeiture is part of the EFCC’s efforts to deprive suspects of the proceeds of their crimes, according to Dele Oyewale, the agency’s Head of Media and Publicity.
Earlier in June, the commission seized 15 illegal properties and eight luxury vehicles obtained through fraud and money laundering.
EFCC Executive Chairman Ola Olukoyede has repeatedly emphasized that asset recovery is crucial in the fight against corruption, economic crimes, and financial fraud, serving as a major deterrent to corrupt individuals.
The EFCC, established in 2003, works to combat corruption in Nigeria, where it remains pervasive across government structures.