Tuesday, 03 December 2024 04:52

EFCC secures ‘single largest asset forfeiture’ of Abuja housing estate by court order from unnamed ex-govt official

Rate this item
(0 votes)

The Economic and Financial Crimes Commission (EFCC) has secured the final forfeiture of an estate located in the federal capital territory (FCT).

Jude Onwuegbuzie, a judge of the FCT high court, delivered his verdict in favour of the EFCC on Monday.

In a statement, Dele Oyewale, spokesperson of the anti-graft agency, said the estate, which measures 150,500 square metres and contains 753 units of duplexes and other apartments, is the largest single asset the EFCC has recovered since it was set up in 2003.

The individual who forfeited the property was not mentioned, but Oyewale said it belonged to a “former top brass of the government”.

“The road to the final forfeiture of the property was paved by an interim forfeiture order, secured before the same Judge on November 1, 2024,” he said.

“The government official which fraudulently built the estate is being investigated by the EFCC. The forfeiture of the asset is an important modality of depriving the suspect of the proceeds of the crime.

“In this instance, the Commission relied on Section 17 of the Advance Fee Fraud And Other Fraud Related Offences Act No 14, 2006 and Section 44 (2) B of the Constitution of the 199 Constitution of the Federal Republic of Nigeria to push its case.

“The Establishment Act of the Commission places huge emphasis on asset recovery.”

The EFCC spokesperson said the judge held that the respondent did not show cause as to why he should not lose the property.

Oyewale quoted Ola Olukoyede, EFCC’s chair, as saying that asset recovery is “pivotal in the fight against corruption, economic and financial crimes and a major disincentive against the corrupt and the fraudulent”.

 

The Cable

January 13, 2025

Fuel prices in Nigeria likely to surge as Brent crude rises above $81

Fuel prices in Nigeria are expected to climb further as Brent crude prices surged above…
January 11, 2025

Ohanaeze Ndigbo gets new President-General

John Azuta-Mbata, a former senator, has been elected as the new president-general of Ohanaeze Ndigbo,…
January 12, 2025

Why some animals appear to mourn their dead

Grief has long thought to be a human trait, but other animals – from killer…
January 04, 2025

Shy man cuts off 4 fingers instead of telling boss he wanted to quit his…

A 32-year-old Indian man admitted to cutting off four fingers on his left hand to…
January 13, 2025

Bandits attack Zamfara mosque, kidnap dozens of worshippers

Armed assailants launched an attack on a mosque in Birnin Yaro village, Zamfara state, kidnapping…
January 13, 2025

What to know after Day 1054 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Ukraine won’t reclaim all Russian-held territories – Trump adviser It is not possible…
December 25, 2024

Stem cell therapy to correct heart failure in children could 'transform lives'

Renowned visionary English physician William Harvey wrote in 1651 about how our blood contains all…
January 08, 2025

NFF appoints new Super Eagles head coach

The Nigeria Football Federation (NFF) has appointed Éric Sékou Chelle as the new Head Coach…

NEWSSCROLL TEAM: 'Sina Kawonise: Publisher/Editor-in-Chief; Prof Wale Are Olaitan: Editorial Consultant; Femi Kawonise: Head, Production & Administration; Afolabi Ajibola: IT Manager;
Contact Us: [email protected] Tel/WhatsApp: +234 811 395 4049

Copyright © 2015 - 2025 NewsScroll. All rights reserved.