BREAKING: EFCC records ‘largest ever’ single asset recovery (IMAGE)

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The anti-corruption agency’s spokesperson, Dele Oyewale, told reporters in a statement that the property, which is 150,500 square meters in size and includes 753 duplexes and other apartments, is the largest single asset the EFCC has recovered since its founding in 2003.

Oyewale stated that the property belonged to a “former top brass of the government,” although he could not specify who forfeited it.

“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.”

According to the EFCC spokesperson, the judge found that the respondent had not given enough explanation for keeping the disputed property.

Oyewale cited EFCC chair Ola Olukoyede, who underlined that asset recovery is crucial in the fight against economic and financial crimes related to corruption and acts as a powerful disincentive to fraudulent and corrupt practices.

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