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Court Ok EFCC Plea For Unnamed Top Ex Govt Official To Forfeit 753 Houses
https://osazuwaakonedo.news/court-ok-efcc-plea-for-unnamed-top-ex-govt-official-to-forfeit-753-houses/03/12/2024/
#EFCC #Abuja #Asset #Duplex #Estate ©December 3rd, 2024 ®December 3, 2024 9:58 am Federal High Court in Abuja has ruled and ordered a final forfeiture of 753 houses allegedly built with proceeds of fraud or fraudulent practices by a top ex government official unnamed by the Economic and Financial Crimes Commission, EFCC, while the suspect whose names were not disclosed in public domain remained under investigation.
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Federal high court in Abuja has ruled
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and ordered a final for future of
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753 houses allegedly built with proceeds
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of fraud or fraudulent practices by a
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top exg government official or named by
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the economic and financial crimes
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commission efcc while the suspect whose
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names were not disclosed in public
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domain remained under
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investigation the cour RO that the
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suspect could not give convincing
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reasons why the properties should not be
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forfeited to federal government as
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requested by
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efcc efcc in a news release on Monday
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said the assets is the single largest
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asset recovery ever met by the
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commission since its Creation in
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2003 details of the news release has
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made available by efcc media unit where
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efcc said its chairman or has ordered
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the commission operatives to commence
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recovery of property suspected to have
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been acquired with proceeds of fraud
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once a suspect is under investigation
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reads verba below Justice CH onzi on
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Monday December 2nd 2024 gave a ruling
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on a final forfeiture of an estate in
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Abuja majoring 1
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15,500 square m and containing
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753 units of duplexes and other
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apartments this is the single largest
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asset recovery by the economic and
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financial crimes commission efcc says
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its Inception in
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2003 the EST rests on plot 109 cadastral
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Zone co9 looma District Abuja the
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forfeiture of the property to the
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federal government by a former top brass
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of the government was pursuant to efcc's
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mandate and policy directive of ensuring
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that the corrupt and fraudulent do not
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enjoy the proceeds of their unlawful
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activities in this instance the
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commission relied on Section 17 of the
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advanc fee fraud and other fraud related
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offenses act number 14 2006 and section
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442 B of the Constitution of the
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199 constitution of the federal republic
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of Nigeria to push its case ruling on
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the commission's application for the
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final forfeiture of the property Justice
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Uzi held that the respondents have not
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shown cause as to why he should not lose
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the property which has been reasonably
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suspected to have been acquired with
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proceeds of unlaw activities the
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property is hereby finally forfeited to
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the federal government the road to the
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final forfeiture of the property was
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paved by an interim forfeiture order
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secured before the same judge on
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November 1st
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2024 the government official which
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fraudulently built the estate is being
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investigated by the
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efcc the forfeiture of the asset is an
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important modality of depriving the
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suspect of the proceeds of the crime the
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justification for the forfeiture is
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derived from part two section 7 of The
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efcc Establishment act which stipulates
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that the efcc has powered to cause
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investigations to be conducted as to
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whether any person corporate body or
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organization has committed any offense
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under this act or other law relating to
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economic and financial crimes and cause
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investigations to be conducted into the
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properties of any person if it appears
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to the commission that the person's
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lifestyle and extent of the properties
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are not justif ifed by his source of
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income the commission's executive
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chairman Mr Ola Ed has repeatedly
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described asset recovery as pivotal in
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the fight against corruption economic
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and financial crimes and a major
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disincentive against the corrupt and the
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fraudulent addressing members of the
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House of Representatives committee on
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anti-corruption recently he said if you
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understand the intricacies involved in
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financial crimes investigation and
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prosecution you will discover that to
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recover 1 billion naira is more so I
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told my people that the moment we start
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investigation we must also start asset
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tressing because asset recovery is
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pivotal in the anti-corruption fight and
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one of the potent instruments that you
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can deploy as an anti-corruption agency
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for an effective fight is asset tressing
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and Recovery if you allow the corrupt or
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those that you are investigating to have
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access to the proceeds of their crime
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they will fight you with it so one of
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the ways to weaken them is to deprive
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them of the proceeds of their crime so
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our model's opar has changed
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simultaneously the moment We Begin
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investigation We Begin asset tring that
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was what helped us to make our
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recoveries The Establishment Act of the
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commission places huge emphasis on asset
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recovery subject to the provisions of
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section 24 of the ACT whenever the
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assets and properties of any person
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arrested under the ACT are attached the
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commission shall apply to the court for
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an interim fiture and where a person is
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arrested for an offense under the act
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the commission shall immediately trace
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and attach all the assets and properties
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of the person acquired as a result of
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such economic and financial crime and
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shall thereafter cause to be obtained an
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interim attachment order from the court
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and where the assets or properties of
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any person arrested for an offense under
5:29
the AR has been seized or any assets or
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property has been seized by the
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commission under the act the commission
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shall cause an application to be made to
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the court for an interim order
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forfeiting the property concerned to the
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federal government and the court shall
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if satisfied that there is pre FY
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evidence that the property concern is
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liable to forfeiture make an interim
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order forfeiting the property to the
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federal government which the commission
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would usually escalate to earn a final
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forfeiture this procedure was duy
5:57
followed in this respect the recovery of
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the asset represents a milestone in the
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annal of operations of the efcc and
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infallible proof of the commitment of
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President B amable to the
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anti-corruption
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war for are bringing you the news in a
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