Proceeds of Crime Estate being developed by Godwin Emefielee
Following a landmark ruling on Monday, December 2, 2024, Justice Jude Onwuegbuzie ordered the final forfeiture of a massive estate in Abuja to the Federal Government. The property, spanning 150,500 square meters and comprising 753 duplexes and other apartments, is situated at Plot 109, Cadastral Zone C09, Lokogoma District. This represents the single largest asset recovery by the Economic and Financial Crimes Commission (EFCC) since its establishment in 2003.
The forfeiture follows investigations into a former high-ranking government official suspected of using proceeds from unlawful activities to acquire the estate many suspect Mr. Godwin Emefiele, former CBN Governor). The ruling aligns with the EFCC’s mandate to ensure that individuals involved in corruption and fraud do not benefit from their illicit gains.
Legal Basis for the Forfeiture
The EFCC built its case on Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14, 2006, and Section 44 (2)(b) of the 1999 Constitution of the Federal Republic of Nigeria. Delivering the judgment, Justice Onwuegbuzie noted that the respondent failed to provide a valid defense against the allegations. The court concluded:
“The property, which has been reasonably suspected to have been acquired with proceeds of unlawful activities, is hereby finally forfeited to the Federal Government.”
The process leading to this final forfeiture began with an interim forfeiture order issued by the same court on November 1, 2024.
Significance of Asset Recovery
This unprecedented recovery underscores the EFCC’s commitment to fighting corruption through asset forfeiture. The EFCC Executive Chairman, Mr. Ola Olukoyede, has repeatedly emphasized the critical role of asset tracing and recovery in the anti-corruption crusade. Speaking recently to members of the House of Representatives Committee on Anti-Corruption, he remarked:
“Recovering one billion naira is war. The moment we initiate an investigation, we also begin asset tracing. Asset recovery weakens the ability of suspects to use proceeds from their crimes to fight back, making it a pivotal tool in combating corruption.”
Legal Framework Supporting Asset Recovery
Part 2, Section 7 of the EFCC Establishment Act empowers the Commission to investigate individuals whose lifestyles and properties are inconsistent with their legitimate income. This case exemplifies how such measures are deployed to strip suspects of unlawfully acquired assets, reinforcing the principle that crime does not pay.
Moving Forward
The EFCC is intensifying investigations into the official responsible for the fraudulent acquisition of the estate. The Commission remains resolute in its mission to recover stolen assets and deter economic crimes, marking a significant milestone in Nigeria’s anti-corruption efforts.
