The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has reignited a long-running conversation about abandoned estates in the Federal Capital Territory (FCT), Abuja.
He alleged that many of them are owned by corrupt civil servants who diverted public funds to finance luxury real estate projects.
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Speaking at a policy dialogue in Abuja on Wednesday, Olukoyede said the EFCC has set up a special team to begin inspecting such estates, not only in Abuja but across the country, in an effort to trace ownership and take legal action where corruption is uncovered.
“It will shock you that some of these estates have been abandoned for 10 to 20 years,” the EFCC chairman said. “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.”
He said the agency has already filed forfeiture proceedings for about 15 estates and plans to pursue more cases as fresh intelligence is gathered. He also warned lawyers and real estate developers not to aid individuals involved in money laundering through property transactions.
A persistent, well-documented problem
While the EFCC’s renewed interest has attracted public attention, the issue itself is not new. Over the years, real estate experts, urban planners, and civil society organisations have repeatedly raised concerns over the growing number of abandoned or unoccupied estates scattered across the FCT.
Many of these developments, often luxurious and fenced off, dot districts like Maitama, Guzape, Asokoro, and Gwarinpa, standing half-completed or eerily empty.
Investigations by past administrations and watchdog groups have pointed to illicit financial flows, abuse of office, and front companies used by politically exposed persons as root causes.
As far back as 2013, then FCT Minister Bala Mohammed acknowledged the rise of “abandoned estates” is tied to high premiums that make them unattainable for potential renters. Ironically, the EFCC announced in 2017 that it had seized 14 pieces of property linked to Mohammed and his son, Shamsuddeen. It said the properties — located in “choice areas” of Abuja — are “reasonably suspected to be proceeds of unlawful activities and crimes.”
In 2021, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) also flagged real estate as a major channel for laundering proceeds of corruption by public servants and politicians.
A pattern of promises
Olukoyede’s remarks have stirred public curiosity, but also skepticism. Observers note that anti-corruption agencies have, in the past, made similar statements without significant follow-through. Announcements of forfeitures and property tracing often stall in legal disputes or become entangled in bureaucratic delays.
Critics argue that despite well-publicised forfeitures, there has been little systemic reform to prevent civil servants from accumulating unexplained wealth or using proxies to acquire land and property.
The absence of an updated public asset register or mandatory declaration audits for top-level bureaucrats further complicates the EFCC’s job.
FURTHER READING
Will this time be different?
The EFCC’s latest plan to deploy a dedicated team suggests a more proactive approach. However, several questions remain unanswered:
- Will the investigations lead to successful prosecutions or just more abandoned assets under litigation?
- Will public access to property ownership records be improved to aid transparency?
- What measures will be put in place to prevent future misuse of public funds for real estate speculation?
Philip Ibitoye is a Special Correspondent with EKO HOT BLOG. Click here to find daily analysis and critical insight on trending issues in Lagos and other parts of Nigeria.
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