Connect with us


BIG STORY

EFCC Makes Single Largest Asset Recovery As Top Civil Servant Loses 753 Duplexes, Apartments

Published

on

Justice Jude Onwuegbuzie, on Monday, 2 December 2024, delivered a ruling on the final forfeiture of an estate in Abuja measuring 150,500 square metres, containing 753 units of duplexes and other apartments.

This marks the single largest asset recovery by the Economic and Financial Crimes Commission (EFCC) since its establishment in 2003.

The estate is located on Plot 109 Cadastral Zone C09, Lokogoma District, Abuja.

The forfeiture of the property to the federal government by a former senior government official follows the EFCC’s mandate and policy to ensure that individuals involved in corrupt and fraudulent activities do not benefit from the proceeds of their crimes.

In this case, 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 Federal Republic of Nigeria (1999) to pursue its case.

Ruling on the Commission’s application for final forfeiture, Justice Onwuegbuzie stated that the respondent failed to demonstrate why the property should not be forfeited, declaring that, “which has been reasonably suspected to have been acquired with proceeds of unlawful activities, the property is hereby finally forfeited to the federal government.”

The path to this final forfeiture was paved by an interim forfeiture order, secured before the same judge on November 1, 2024.

The government official responsible for the fraudulent construction of the estate is under investigation by the EFCC.

The forfeiture of this asset is a crucial method of depriving the suspect of the proceeds of their criminal activities.

The legal basis for the forfeiture is found in Part 2, Section 7 of the EFCC Establishment Act, which grants the EFCC the power to “cause investigations to be conducted as to whether any person, corporate body or organization has committed any offence under this Act or other law relating to economic and financial crimes and cause investigations to be conducted into the properties of any person if it appears to the Commission that the person’s lifestyle and extent of the properties are not justified by his source of income.”

The Commission’s Executive Chairman, Mr. Ola Olukoyede, has consistently emphasized the importance of asset recovery in the fight against corruption, economic, and financial crimes, describing it as a significant deterrent against corrupt and fraudulent individuals.

Speaking before the House of Representatives Committee on Anti-Corruption recently, he stated, “If you understand the intricacies involved in financial crimes investigation and prosecution you will discover that to recover one billion naira is war. So, I told my people that the moment we start investigation we must also start asset tracing because asset recovery is pivotal in the anti-corruption fight; and one of the potent instruments that you can deploy as an anti-corruption agency for an effective fight is asset tracing and recovery. If you allow the corrupt or those that you are investigating to have access to the proceeds of their crime, they will fight you with it. So one of the ways to weaken them is to deprive them of the proceeds of their crime. So, our modus operandi has changed simultaneously. The moment we begin investigation, we begin asset tracing. That was what helped us to make our recoveries.”

The EFCC Establishment Act places significant emphasis on asset recovery.

Under Section 24 of the Act, “whenever the assets and properties of any person arrested under the Act are attached, the Commission shall apply to the court for an interim forfeiture and where a person is arrested for an offence under the Act, the Commission shall immediately trace and attach all the assets and properties of the person acquired as a result of such economic and financial crime and shall thereafter cause to be obtained an interim attachment order from the Court. And where the assets or properties of any person arrested for an offence under the Act has been seized or any assets or property has been seized by the Commission under the Act, the Commission shall cause an application to be made to the Court for an interim order forfeiting the property concerned to the Federal Government and the court shall, if satisfied that there is prima facie evidence that the property concerned is liable to forfeiture, make an interim order forfeiting the property to the Federal Government, which the Commission would usually escalate to earn a final forfeiture.”

This procedure was duly followed in this case.

The recovery of this asset represents a milestone in the operations of the EFCC and serves as indisputable proof of President Bola Ahmed Tinubu’s commitment to the anti-corruption fight.

BIG STORY

Stakeholders Engagement: Obasa Reels Out Renewed Hope Initiative Achievements

Published

on

  • “Renewed hope is not merely a slogan, but a call to action and a vision in progress,” – Obasa

 

Two years into President Bola Ahmed Tinubu administration’s Renewed Hope Agenda, Nigeria, according to Rt. Hon. Mudashiru Obasa, Speaker of the Lagos State House of Assembly, has witnessed an inspiring transformation – a rejuvenation of the economy, a renewal of the national spirit, and a reinvention of the Nigerian state.

Speaking at the 10th Constituency Stakeholders Engagement held inside the Agege Local Government Area secretariat hall on Thursday, Obasa disclosed that this year’s theme, ‘Governance in Action: The Gains of the Renewed Hope Agenda,’ was carefully chosen to highlight the tangible benefits of governance, particularly in alignment with the Renewed Hope Initiative of President Tinubu.

He stated, “This unique programme, which is holding across all the 40 constituencies in the state, gives us a viable opportunity to render an account of our stewardship as well as engage, interact, and strengthen our mutual relationship and solidarity, and to collectively address pressing matters affecting the growth, progress and development of our great community.”

According to Speaker Obasa, “Under the Renewed Hope agenda, the administration has aggressively tackled the challenges of economic stagnation and instability. Strategic economic reforms, including a re-engineering of fiscal policies and revenue-generating mechanisms, have boosted investor confidence and diversified our economy. These reforms have led to an improved credit rating and have laid a strong foundation for economic prosperity and sustainable development,” he said.

Recognising that robust infrastructure is the backbone of development, Speaker Obasa disclosed that the Tinubu administration has launched transformative projects nationwide, including new road networks, upgraded ports, and state-of-the-art public facilities, which he said are not only enhancing the quality of life but also reinforcing Nigeria’s position as a hub for commerce and innovation.

Further, Speaker Obasa said that because agriculture remains central to Nigeria’s quest for food security and self-sufficiency, “The Renewed Hope Agenda has driven significant investments into mechanised farming and modern agricultural practices. Improved access to financing and expanded markets have empowered our farmers, increased production, and positioned Nigeria as a potential agricultural powerhouse.”

He also highlighted the Tinubu administration’s investment in human capital, especially the students’ loan initiative under the Nigerian Education Loan Fund (NELFUND), describing it as a landmark policy that has brought renewed hope to our youths. “Campuses are now more peaceful, infrastructure is improving, and there’s a measure of stability in the academic environment across the federation. Education is once again becoming the tool for empowerment and national development,” he added.

Thus, Obasa opined, “The Renewed Hope Agenda is not by chance; it is a deliberate blueprint for national recovery and sustainability. It is designed to lift millions out of poverty by unlocking economic opportunities for all Nigerians — young and old – men and women, in both urban and rural areas.”

The Speaker drew a parallel between what is happening at the centre and in Lagos State, saying, “In consonance with the national drive for progress, Governor Babajide Olusola Sanwo-Olu has been a pivotal partner in the realisation of this shared vision. His tenure is characterised by innovative urban renewal projects, efficient public service delivery, and legislative collaboration for sustainable growth.

“Lagos, as the commercial nerve centre of Nigeria, has seen groundbreaking infrastructural developments. Modern transport systems, sustainable housing projects, and pioneering urban planning initiatives have transformed our cityscape, making Lagos not only a city of opportunities but a beacon of modern urbanism.”

He added that the proactive engagement between the Executive arm and the House of Assembly has led to the passage of progressive laws that support social welfare, environmental sustainability, and infrastructural innovation. “This strong legislative backing has been instrumental in creating an enabling environment for private investments and public-private partnerships,” Obasa added.

As he reeled out a long list of federal and state government achievements, and those he singlehandedly facilitated in his Agege Constituency, Speaker Obasa was intermittently interrupted by excited constituents belting out popular and political songs, underscoring in no small measure, their appreciation for the man who had dedicated the past 24years of his life to serving them as a legislator.

In his welcome address, Hon. Abdul Ganiyu Vinod Obasa, the acting executive chairman of Agege LGA, was filled with praises for President Tinubu’s steadfast commitment to restoring Nigeria to the path of economic stability and prosperity through the Renewed Hope Agenda. He promised to emulate the president in ensuring that the dividends of democracy reach every member of his community.
The event was attended by constituents, party leaders, traditional rulers, religious leaders, and members of various trade associations, among others.

Continue Reading

BIG STORY

JUST IN: President Tinubu Departs For 10-Day Working Vacation In France, UK

Published

on

President Bola Tinubu has left Abuja to begin a 10-working-day “working vacation” in Europe as part of his 2025 annual leave, the Presidency announced on Thursday.

In a statement by Bayo Onanuga, Special Adviser on Information and Strategy, the president’s itinerary includes trips to France and the United Kingdom, after which he is expected to return to Nigeria .

The statement did not clarify whether Tinubu will transmit a formal leave notice to the National Assembly under Section 145(1) of the 1999 Constitution (as amended), which allows the Vice President to act in his stead. Notably, both chambers are currently on recess .

This marks another foreign excursion shortly after a diplomatic mission to Japan and Brazil in late August, where Tinubu pursued trade, aviation, and security agreements during meetings in Japan and with President Luiz Inácio Lula da Silva in Brazil .

Continue Reading

BIG STORY

I’m The Most Experienced Oyo Governorship Aspirant In APC — Adebayo Shittu

Published

on

Adebayo Shittu, current Minister of Communications, has positioned himself as the most experienced candidate in the All Progressives Congress (APC) contest for the Oyo State governorship.

In a statement to journalists in Ibadan, Shittu cited his extensive political track record—spanning roles as a member of the Oyo State House of Assembly in 1979, a two-time State Commissioner, and two previous governorship bids—as qualifications that set him apart from other aspirants. “I was a member of the State House of Assembly in 1979 and two-time Commissioner in the State. I have also contested the governorship seat in the state twice before I became a minister. These are experiences you cannot buy,” he insisted .

Shittu emphasized the importance of experience in governance and governance readiness, underscoring the complexity of Oyo State’s political landscape. He added, “Oyo is advanced and sophisticated to be handled by inexperienced administrators” .

Drawing on his historical ties to Nigeria’s political heritage, Shittu noted that he gleaned invaluable insights from Chief Obafemi Awolowo, a foundational figure of Nigeria’s politics. He argued that this lineage of political mentorship enhances his capacity to govern effectively.

Continue Reading


 


 

 

 

Join Us On Facebook

Most Popular