6 hours ago
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The Economic and Financial Crimes Commission (EFCC) has revealed that several abandoned estates across the Federal Capital Territory (FCT), Abuja, are owned by civil servants suspected of using stolen public funds to finance the projects.
EFCC Chairman Ola Olukoyede made this known during a policy dialogue in Abuja, organised by Law Corridor.
Olukoyede disclosed that the anti-graft agency has set up a special task force to investigate ownership of such properties nationwide. According to him, many of the estates have remained uncompleted or deserted for over a decade, raising suspicion about their sources of funding.
“It will shock you that some of these estates have been abandoned for 10 to 20 years. Most were funded by civil servants who stole public funds. Once they exit service and the money stops coming, they abandon the project,” he said.
He added that the EFCC has already filed forfeiture proceedings against 15 of such estates and will prosecute more suspects based on fresh intelligence.
“Some of you in this room may own some of these estates. We are coming for you,” he warned.
The EFCC Chairman urged lawyers and real estate developers to avoid becoming tools for money laundering, noting that the sector cannot grow if unethical practices persist.
He also criticised Nigeria’s heavy reliance on cash transactions, saying it fuels corruption.
“How does a level 17 officer earning less than a million naira monthly own a N500 million mansion?” Olukoyede asked, calling for a systemic reform in property financing and better oversight mechanisms to curb illicit wealth.
