The Commission, on Monday, achieved its largest single asset recovery since its establishment in 2003, following the final forfeiture of an estate comprising 753 duplexes and apartments in Abuja.
In a statement posted on its official X account on Tuesday, the agency described the recovery as a landmark achievement and emphasised that the forfeiture proceedings were conducted in line with Section 17 of the Advance Fee Fraud Act. This section allows for civil action against a property rather than an individual, particularly in cases involving unclaimed assets.
EFCC explained that investigations revealed the company linked to the estate had denied ownership, prompting the Commission to seek a court order for final forfeiture. The Federal Capital Territory High Court granted this order on December 2, 2024, following a comprehensive legal process supported by actionable intelligence.
While some Nigerians praised the agency’s efforts, others criticised the lack of transparency regarding the identity of the estate’s promoters.
The EFCC dismissed these criticisms, arguing that it would be inappropriate to disclose names while criminal investigations are ongoing and no direct ownership evidence has been established.
The Commission reiterated its commitment to fighting corruption without bias and urged Nigerians to address systemic gaps that enable large-scale financial misconduct.
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