Emefiele Forfeits Vast Estate of 753 Duplexes, Apartments to FG in EFCC’S Largest Single Seizure Since Inception

Follow

( 0 Followers )

X

Follow

E-mail : *

Follow Unfollow

In a record-breaking single assets seizure by the Nigerian State, the Economic and Financial Crimes Commission, EFCC, said an unnamed “former senior government official” has forfeited a sprawling estate housing 753 duplexes and apartments, to the federal government. The estate, which investigations have revealed belonged to the former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, is located on Plot 109, Cadastral Zone C09, Lokogoma District, Abuja, and covers 150,500 square metres.
The EFCC, following backlash over its failure to publish the identity of the individual involved, claimed it would be unprofessional to do so because “substantive criminal investigation on the matter continues”.
Recall that Emefiele had on November 1, 2024, forfeited the sum of $2.045m, seven landed properties, and the two share certificates of Queensdorf Global Fund Limited Trust linked to him. Justice Dehinde Dipeolu of the Federal High Court, Ikoyi, Lagos, gave the order ofor the final forfeiture.
Announcing the forfeiture on Tuesday, the EFCC said Justice Jude Onwuegbuzie delivered the historic ruling Monday December 2, 2024, marking the largest asset recovery ever achieved by the Commission since its inception in 2003.
A statement put out by the Commission said “The forfeiture followed the EFCC’s mandate to prevent corrupt individuals from benefiting from illicitly acquired assets. Justice Onwuegbuzie ruled that the respondent had failed to provide sufficient evidence to justify ownership of the estate, which was reasonably suspected to have been built with proceeds of unlawful activities. The ruling was secured under Section 17 of the Advance Fee Fraud and Other Fraud-Related Offences Act and Section 44(2)(B) of the 1999 Nigerian Constitution”.
The anti-corruption watchdog explained that “The process leading to the final forfeiture began with an interim order issued by the same court on November 1, 2024”, while its investigations revealed that “the estate was fraudulently built by a former senior government official, who remains under investigation”.
The Commission emphasised that forfeiture of such assets was critical to dismantling the economic power of corrupt individuals and safeguarding public resources.
The EFCC Chairman, Ola Olukoyede, underscored the importance of asset recovery in the fight against corruption, describing it as a pivotal strategy to weaken the influence of financial criminals.
Addressing the House of Representatives Committee on Anti-Corruption, Olukoyede explained that the Commission had adopted a proactive approach, combining investigations with asset tracing from the outset. “This ensures that illicitly acquired wealth is promptly identified and confiscated to prevent its use against law enforcement efforts”, he said.
The EFCC’s Establishment Act provides the legal framework for these recoveries, empowering the Commission to trace, seize, and forfeit properties acquired through economic and financial crimes. The EFCC said the ruling in this case exemplified its commitment to fulfilling its mandate “and reflects President Bola Ahmed Tinubu’s resolve to intensify the anti-corruption campaign.
While asserting that “This milestone recovery stands as a testament to the EFCC’s evolving strategies and dedication to accountability”, the EFCC said by denying corrupt individuals access to their illicit wealth, it would continue to strengthen Nigeria’s fight against corruption and economic crimes.