The Economic and Financial Crimes Commission (EFCC) has successfully secured the final forfeiture of a substantial estate in Abuja, marking its largest asset recovery since its establishment in 2003.

The ruling was issued by Justice Jude Onwuegbuzie of the Federal Capital Territory High Court.

According to EFCC spokesperson Dele Oyewale, the estate spans 150,500 square meters and includes 753 duplexes and other apartments.

The property was forfeited from an unnamed former senior government official currently under investigation for alleged financial crimes.

The court's decision followed an interim forfeiture order granted on November 1, 2024. Justice Onwuegbuzie ruled that the respondent failed to demonstrate why the property should not be forfeited, stating it was reasonably suspected to have been acquired through unlawful activities.

“The forfeiture of this asset is a crucial step in depriving the suspect of the proceeds of crime,” Oyewale explained. He noted that the EFCC relied on Section 17 of the Advance Fee Fraud and Other Related Offences Act and Section 44 (2)(b) of the Nigerian Constitution to support its case.

The EFCC emphasized that asset recovery is vital in combating corruption and financial crimes, serving as a significant deterrent against fraudulent activities.

EFCC Chairman Ola Olukoyede reiterated that effective asset tracing and recovery are essential components in the fight against corruption, ensuring that those involved in financial crimes do not benefit from their illegal gains.