Juatice Jude Onwuegbuzie, on Monday, December 2, 2024, ordered the final forfeiture of an estate in Abuja, measuring 150,500 square meters and comprising 753 duplexes and apartments, to the federal government.
The estate, located on Plot 109, Cadastral Zone C09, Lokogoma District, is the largest asset recovery by the Economic and Financial Crimes Commission (EFCC) since its establishment in 2003.
The forfeiture followed an investigation by the EFCC into a former government official suspected of fraudulently acquiring the estate. The Commission invoked Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14, 2006, and Section 44(2)(b) of the 1999 Constitution to secure the ruling.
Justice Onwuegbuzie ruled that the respondent failed to demonstrate a legitimate source of funds for acquiring the property. He stated that the property had been reasonably suspected to be acquired with proceeds of unlawful activities and was therefore forfeited to the federal government.
The process began with an interim forfeiture order issued by the same judge on November 1, 2024. The EFCC’s investigation determined that the estate was acquired with proceeds of financial crime, leading to the final forfeiture ruling.
The EFCC Establishment Act, particularly Part 2, Section 7, empowers the Commission to investigate individuals and organizations suspected of economic and financial crimes. The Act also mandates asset recovery if the suspect’s wealth is not justified by legitimate income.
The EFCC relied on provisions requiring interim forfeiture before pursuing a final forfeiture. This ensures assets linked to financial crimes are secured at the start of investigations, preventing suspects from using proceeds of crime to obstruct justice.
EFCC Executive Chairman, Mr. Ola Olukoyede, has emphasized the importance of asset recovery in combating corruption. He noted that suspects often use their ill-gotten wealth to resist investigations, which is why asset tracing begins simultaneously with investigations.
This recovery demonstrates the EFCC’s commitment to depriving corrupt individuals of unlawfully acquired assets. It aligns with the federal government’s anti-corruption agenda, signaling a strong stance against financial crimes. The forfeiture of the estate is a significant step in Nigeria’s fight against corruption.
