Thursday, August 7, 2025 - The chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, says many abandoned estates in the federal capital territory (FCT) are owned by civil servants who have stolen money.
The boss of the anti-graft agency said this at a policy
dialogue organised by Law Corridor with the theme, “Critical Issues Affecting
Nigeria’s Real Estate Ecosystem.”on Wednesday, August 6.
While noting that some of the estates have been abandoned
for over 10 years, the EFCC chairman said the anti-graft agency has set up a
special team that would start visiting such properties.
“I have set
up the team. We will start visiting all the estates, not only in Abuja but
across Nigeria. We want to know who owns what. It will shock you that some of
these estates have been abandoned for 10 to 20 years. They just take it to a
level, and they abandon it.
Nobody knows
what is going on. What we have been able to gather is that most of these
estates were funded by civil servants who have stolen money.
The moment
they leave public service, and the money is no longer coming, they abandon the
estate. Then, the developer will start looking for investors to support them to
complete the project.”
Olukoyede said the agency has had cause to file for
forfeiture for about 15 estates in recent times.
“We have
gotten more intelligence, too. Some of you sitting in this room, probably some
of those estates belong to you. But very soon, we expect to meet you in court
because there is no way we will develop this sector if we continue with that
attitude. I know some of you have your genuine source of capital.”
He warned lawyers and real estate developers not to lend
themselves as willing tools in the hands of those who engage in money
laundering.
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