The Economic and Financial Crimes Commission (EFCC) on Monday, December 2, announced the recovery of what it described as the “largest ever” seized assets but withheld the name of the person linked to the property.

The commission got the approval for the final forfeiture of the estate, located in Abuja, in a ruling by Jude Onwuegbuzie, a judge of the Federal High Court in Abuja.

The judge ordered the final forfeiture of a massive 150,500 square meter estate to the Federal Government. This estate, located in the Lokogoma district, comprises 753 duplexes and other apartments.

According to the statement signed by the anti-graft agency spokesperson, Dele Oyewale, the property, linked to a former government official, was seized by the EFCC under the Advance Fee Fraud and Other Fraud Related Offences Act.

The court ruled that the respondent failed to provide sufficient justification for retaining the property, which was suspected to have been acquired through unlawful means.

However, Oyewale failed to mention the name of the ex-government official in question, as the statement only refers to the investigating individual as “former top brass of the government”.

Recall that EFCC secured an interim forfeiture order before the same Judge on the 1st of November, 2024.

This forfeiture represents the largest single asset recovery by the EFCC since its establishment in 2003.

The commission’s executive chairman, Ola Olukoyede, emphasised the crucial role of asset recovery in the fight against corruption.

By depriving criminals of the proceeds of their crimes, the EFCC aims to deter future illicit activities and strengthen the nation’s financial integrity, he stated.

Responding to the members of the House of Representatives Committee on Anti-corruption asking questions on the commission’s activities recently, he said, “If you understand the intricacies involved in financial crimes investigation and prosecution, you will discover that to recover one billion naira is war.

“So, I told my people that the moment we start investigation, we must also start asset tracing because asset recovery is pivotal in the anti-corruption fight; and one of the potent instruments that you can deploy as an anti-corruption agency for an effective fight is asset tracing and recovery.

“If you allow the corrupt or those that you are investigating to have access to the proceeds of their crime, they will fight you with it. So one of the ways to weaken them is to deprive them of the proceeds of their crime. So, our modus operandi has changed simultaneously. The moment we begin an investigation, we begin asset tracing. That was what helped us to make our recoveries.”