The Economic and Financial Crimes Commission (EFCC) on Monday announced the single largest asset recovery in the agency?s 21-year history.

Justice Jude Onwuegbuzie of the High Court of the FCT on Monday, December 2, 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.

The EFCC said the recovery of the estate located on Plot 109 Cadastral Zone C09, Lokogoma District in Abuja, is the single largest asset recovery by the anti-graft commission since its inception in 2003.

?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,? an EFCC statement reads in part.

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 an investigation, we begin asset tracing. That was what helped us to make our recoveries,? he added. (Daily Sun)

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