In a landmark ruling, Justice Jude Onwuegbuzie on Monday, December 2, 2024, granted a final forfeiture order for an estate in Abuja spanning 150,500 square meters and comprising 753 units of duplexes and apartments. This ruling marks the Economic and Financial Crimes Commission’s (EFCC) single largest asset recovery since its establishment in 2003.
The estate, located on Plot 109, Cadastral Zone C09, Lokogoma District, Abuja, was forfeited to the Federal Government after the EFCC established it was acquired through proceeds of corruption. The property belonged to a former high-ranking government official, who is currently under investigation.
Legal Foundation
The EFCC based its case on Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14, 2006, and Section 44(2)(B) of the Nigerian Constitution, which empowers the commission to confiscate assets reasonably suspected to be acquired with illicit funds.
Justice Onwuegbuzie, while delivering the judgment, stated that the respondent failed to justify ownership of the estate or provide evidence of legitimate income for its acquisition. Following an interim forfeiture order issued on November 1, 2024, the final ruling ensures the estate is permanently forfeited to the Federal Government.
EFCC’s Anti-Corruption Strategy
The EFCC Chairman, Mr. Ola Olukoyede, emphasized the significance of asset recovery in combating corruption. Addressing the House of Representatives Committee on Anti-Corruption, he highlighted the challenges of financial crime investigations and the critical role of asset tracing in undermining the influence of suspects.
“Recovering even one billion naira is a war. To effectively fight corruption, we simultaneously investigate and trace assets. Allowing suspects access to illicit funds empowers them to obstruct justice. Depriving them of these resources is essential to curtail their ability to resist prosecution,” he remarked.
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Implications
This recovery represents a pivotal step in Nigeria’s ongoing battle against economic and financial crimes. It not only deters corrupt practices but also reinforces the EFCC’s resolve to ensure that proceeds of unlawful activities do not benefit perpetrators.
Further investigations into the former official’s activities are expected, as the EFCC continues its efforts to strengthen accountability and recover public resources siphoned through corrupt practices.
