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EFCC Makes Single Largest Asset Recovery till Date

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EFCC Makes Single Largest Asset Recovery till Date

EFCC Makes Single Largest Asset Recovery till Date

Justice Jude Onwuegbuzie, on Monday, December 2, 2024 gave a ruling on a final forfeiture of an estate in Abuja measuring 150,500 square metres and containing 753 Units of duplexes and other apartments. This is the single largest asset recovery by the Economic and Financial Crimes Commission, EFCC, since its inception in 2003. The Estate rests on on Plot 109 Cadastral Zone C09, Lokogoma District, Abuja

The forfeiture of the property to the federal government by a former top brass of the government was pursuant to EFCC’s mandate and policy directive of ensuring that the corrupt and fraudulent do not enjoy the proceeds of their unlawful activities. 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.

Ruling on the Commission’s application for the final forfeiture of the property, Justice Onwuegbuzie held that the respondent have not shown cause as to why he should not lose the property, “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 road to the final forfeiture of the property was paved by an interim forfeiture order, secured before the same Judge on November 1, 2024. 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.
The justification for the forfeiture is derived from Part 2, Section 7 of the EFCC Establishment Act, which stipulates that the EFCC “has 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 repeatedly described asset recovery as pivotal in the fight against corruption, economic and financial crimes and a major disincentive against the corrupt and the fraudulent.
Addressing members of the House of Representatives Committee on Anti-corruption recently, he said, “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 Establishment Act of the Commission places huge emphasis on asset recovery. Subject to the provisions of 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 respect. The recovery of the asset represents a milestone in the annals of operations of the EFCC and infallible proof of the commitment of President Bola Ahmed Tinubu to the anti-corruption war.

Dele Oyewale
Head, Media & Publicity
December 2, 2024

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Mayor of Brampton Honours IBD Foundation

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Mayor of Brampton Honours IBD Foundation

 

The City of Brampton has recognised Alhaji Ibrahim Dende Egungbohun for his remarkable contributions to a transformative initiative designed to empower women through essential skill-building for independence and self-reliance. This formal acknowledgment took place on August 15, 2025, in Mayor Patrick Brown’s office during a visit from the Africa Made Economic Growth Initiative (AMEGI) team. Represented by his wife, Mrs. Omolara Egungbohun, Alhaji Dende received the certification amidst an atmosphere of gratitude and celebration. Mayor Brown presented the certificate personally and extended his commendations to the IBD Foundation for their relentless pursuit of women’s empowerment, development, and their philanthropic efforts.

The Certificate of Recognition underscored Egungbohun’s unwavering dedication and tireless efforts to create diverse opportunities for women to enhance their skills, develop their potential, and ultimately prosper in their personal and professional lives. As a philanthropist, esteemed businessman, and influential social figure, his impact in Nigeria and beyond is both profound and far-reaching.

Egungbohun’s generosity and steadfast commitment have significantly bolstered the confidence of program participants, facilitating their ability to envision and construct brighter futures while strengthening community ties. In his acknowledgment, Mayor Brown stated, “Your dedication uplifts those working to inspire others,” highlighting the deep and lasting influence of Egungbohun’s work in empowering women.

Mayor of Brampton Honours IBD Foundation

This initiative is not just a standalone effort; it harmonizes perfectly with Brampton’s broader mission to advocate for and uplift marginalized groups within the community. Egungbohun’s contributions serve as a vital catalyst for transformative change, offering practical skills that enhance employability while reshaping the economic and social framework for women. Through an assortment of workshops, mentorship programs, and robust support networks, he has fostered an encouraging environment where women can fully explore and realize their potential.

As Brampton steadfastly commits itself to promoting inclusivity and equity, leaders like Egungbohun exemplify how collaboration, vision, and genuine enthusiastic engagement can effectively turn hopes and aspirations into tangible realities. The public acknowledgment from the city not only honors individual efforts but also sends a resounding message, inspiring other community leaders and stakeholders to step up and invest in grassroots empowerment initiatives that uplift and serve those in need. This recognition is a clarion call for collective action toward a more equitable and inclusive society.

 

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Tayo Folorunsho Nominated as Celebrity Special Marshal of the Federal Road Safety Corps

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Tayo Folorunsho Nominated as Celebrity Special Marshal of the Federal Road Safety Corps

Tayo Folorunsho Nominated as Celebrity Special Marshal of the Federal Road Safety Corps

 

 

Tayo Folorunsho, renowned youth ambassador and edutainment advocate, has been officially nominated to be decorated as a Celebrity Special Marshal (CSM) of the Federal Road Safety Corps (FRSC).

 

Tayo Folorunsho Nominated as Celebrity Special Marshal of the Federal Road Safety Corps

 

The unveiling took place at the recently concluded FRSC Youth Hangout, held in celebration of the United Nations International Youth Day at the National Judicial Institute, Abuja.

 

 

Over the years, Tayo Folorunsho has distinguished himself as a passionate youth leader, consistently driving initiatives that inspire and empower young people. His recognition as a Celebrity Special Marshal is not only a mark of honor but also a call to responsibility—championing road safety, responsibility, and positive change within society.

 

Tayo Folorunsho Nominated as Celebrity Special Marshal of the Federal Road Safety Corps

 

Speaking on the recognition, Tayo Folorunsho emphasized:

“This is more than an honor; it is a responsibility to use my voice and influence to promote safety, responsibility, and positive change on our roads.”

 

This milestone reinforces his commitment to youth empowerment, social responsibility, and nation-building through edutainment and advocacy.

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FRSC Partners with Edutainment First International to Drive Road Safety Awareness in Nigeria

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FRSC Partners with Edutainment First International to Drive Road Safety Awareness in Nigeria

FRSC Partners with Edutainment First International to Drive Road Safety Awareness in Nigeria

 

In a country where road accidents claim thousands of lives each year—most of them young people—the Federal Road Safety Corps (FRSC) and Edutainment First International have launched a bold new initiative to change the narrative. On Thursday, August 14, both organizations hosted the maiden Road Safety Youth Hangout at the National Judicial Institute, Abuja.

 

FRSC Partners with Edutainment First International to Drive Road Safety Awareness in Nigeria

 

The event, held to mark United Nations International Youth Day 2025, brought together more than 300 participants, including members of the National Youth Service Corps (NYSC), students, youth leaders, and community representatives. Unlike traditional road safety campaigns, the hangout was designed as an interactive forum blending education and entertainment, where young Nigerians could learn, innovate, and commit to safer road practices.

 

 

According to FRSC data, young people remain the most vulnerable demographic in road traffic crashes across Nigeria—an urgent concern this initiative aims to tackle. Through storytelling, innovation, and collaborative problem-solving, the Road Safety Youth Hangout sought to transform young Nigerians into advocates for safety within their communities.

 

 

“This is not just about rules and regulations,” said one of the organizers. “It’s about equipping young people with the tools and the voice to change Nigeria’s road culture.”

 

Aligned with the UN’s 2025 theme, “Local Youth Actions for the SDGs and Beyond,” the program underscored the critical role of young Nigerians in advancing the Sustainable Development Goals (SDGs), particularly those connected to health, safety, and responsible citizenship.

 

 

By focusing on empowerment rather than enforcement, FRSC and Edutainment First International signaled a fresh approach to road safety: investing in the next generation as the real drivers of change. The belief is simple yet powerful—an informed and empowered youth population is key to reducing accidents and saving lives.

 

 

For many participants, the hangout was more than just an event; it was a wake-up call. With interactive sessions infused with music, drama, and dialogue, young Nigerians were challenged to reflect on their daily habits as road users and to embrace leadership as advocates for safer communities.

 

 

As one youth participant reflected:

“Road safety isn’t just the job of the FRSC. It’s our responsibility too—because we are the ones most at risk.”

 

The maiden edition of the Road Safety Youth Hangout may have ended, but the movement it launched has only just begun. Its message was unmistakable: Nigeria’s fight for safer roads must be youth-led, collaborative, and relentless.

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