The Economic and Financial Crimes Commission (EFCC) recently achieved its largest single asset recovery since its establishment in 2003. The recovery involves the final forfeiture of a 150,500-square-meter estate in Abuja, containing 753 duplexes and other apartments. This estate, located in the Lokogoma District, was tied to a former high-ranking government official under investigation for financial crimes, including money laundering.
The forfeiture was ordered by Justice Jude Onwuegbuzie of the Federal Capital Territory High Court in Abuja on December 2, 2024. The judge ruled that the respondent failed to provide justification for owning the property, which was reasonably suspected to have been acquired with proceeds of unlawful activities. The EFCC relied on legal provisions, such as Section 17 of the Advance Fee Fraud Act of 2006, to secure the ruling.
This landmark recovery underscores the EFCC’s commitment to fighting corruption by depriving individuals of proceeds from illicit activities.
