EFCC MAKES SINGLE LARGEST ASSET RECOVERY TILL DATE

The Economic and Financial Crimes Commission (EFCC) has made history with its single largest asset recovery to date. On Monday, December 2, 2024, Justice Jude Onwuegbuzie ordered the final forfeiture of an estate in Abuja measuring 150,500 square meters and containing 753 units of duplexes and apartments.

This massive recovery is a significant milestone for the EFCC, and it marks a major victory in the fight against corruption. The estate, located on Plot 109 Cadastral Zone C09, Lokogoma District, Abuja, is valued at a staggering amount, although the exact figure has not been disclosed.

DETAILS OF THE RECOVERY

The EFCC’s investigation revealed that the estate was acquired through corrupt means, using funds laundered from various sources. The commission’s operatives worked tirelessly to gather evidence and build a strong case against the owners of the estate.

The EFCC’s Executive Chairman, Mr. Ola Olukoyede, has emphasized the importance of asset recovery in the fight against corruption, stating that it is a potent instrument in weakening corrupt individuals and organizations.

“This recovery is a testament to the EFCC’s commitment to fighting corruption and recovering proceeds of crime,” Mr. Olukoyede said. “We will continue to work tirelessly to identify and recover assets acquired through corrupt means, and to bring those responsible to justice.”

SIGNIFICANCE OF THE RECOVERY

The recovery of this massive estate is a significant blow to corruption in Nigeria. It sends a strong message that the EFCC is committed to fighting corruption and recovering proceeds of crime, no matter how complex or challenging the case may be.

The recovery also highlights the importance of collaboration between the EFCC and other law enforcement agencies, both within and outside Nigeria. The commission’s ability to work with international partners to trace and recover assets acquired through corrupt means has been instrumental in achieving this significant milestone.

CONCLUSION

The EFCC’s single largest asset recovery to date is a major victory in the fight against corruption. The recovery of this massive estate sends a strong message that the EFCC is committed to fighting corruption and recovering proceeds of crime. As the commission continues to work tirelessly to identify and recover assets acquired through corrupt means, Nigerians can be assured that justice will be served, and those responsible for corruption will be held accountable.