In a landmark ruling, Justice Jude Onwuegbuzie has ordered the final forfeiture of a massive estate in Abuja to the federal government. The estate, which spans 150,500 square meters and contains 753 units of duplexes and apartments, is valued at several millions of naira.
According to the Economic and Financial Crimes Commission (EFCC), this is the single largest asset recovery by the Commission since its inception in 2003. The EFCC said the forfeiture was pursuant to its mandate and policy directive of ensuring that corrupt and fraudulent individuals do not enjoy the proceeds of their unlawful activities.
The estate, located on Plot 109 Cadastral Zone C09, Lokogoma District, Abuja, is alleged to have been built with proceeds of corruption by a former top government official. The official is currently being investigated by the EFCC.
The forfeiture of the asset is a significant milestone in the EFCC’s fight against corruption and economic crimes. The Commission’s Executive Chairman, Mr. Ola Olukoyede, has emphasized the importance of asset recovery in depriving corrupt individuals of the proceeds of their crimes.
The recovery of the asset is also seen as a testament to President Bola Ahmed Tinubu’s commitment to the anti-corruption war. The EFCC has pledged to continue its efforts in recovering assets acquired through corrupt means and bringing perpetrators to justice.
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