In a landmark ruling, Justice Jude Onwuegbuzie ordered the final forfeiture of a massive estate in Abuja to the federal government. The estate, which measures 150,500 square meters and contains 753 units of duplexes and other apartments, is the single largest asset recovery by the Economic and Financial Crimes Commission (EFCC) since its inception in 2003.
Located in the prestigious Lokogoma District, Abuja, the estate was built by a former top government official who is currently being investigated by the EFCC for fraudulent activities.
The commission relied on the Advance Fee Fraud and Other Fraud Related Offences Act No 14, 2006, and the Constitution of the Federal Republic of Nigeria to push for the forfeiture.
According to the EFCC’s Executive Chairman, Mr. Ola Olukoyede, asset recovery is a crucial aspect of the fight against corruption and economic crimes. He emphasized that recovering ill-gotten assets is a significant disincentive to corrupt individuals and a vital step in weakening their ability to fight back.
The recovery of this massive estate is a testament to the EFCC’s commitment to fighting corruption and a demonstration of President Bola Ahmed Tinubu’s dedication to the anti-corruption war.
This milestone achievement is a significant step forward in the fight against corruption and economic crimes in Nigeria.
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