REDAN Applauds EFCC’s Landmark Recovery of Properties

The Real Estate Developers Association of Nigeria, REDAN,  has commended the Economic and Financial Crimes Commission, EFCC,  for its strides in combating money laundering and recovery of 753 duplexes and other apartments in the Lokogoma District of Abuja.

  This commendation was given in Abuja by the President and Chairman of Council of REDAN,  Prince Akintoye Adeoye in a letter addressed  to President Bola Ahmed Tinubu,  a copy of which was made available to the EFCC. Adeoye pointed out that the Commission was playing vital roles in combating economic crimes, money laundering and terrorism financing within the real estate sector and specifically lauded the EFCC’s Chairman, Mr. Ola Olukoyede  for driving all the numerous achievements of the Commission in 2024.

“ REDAN acknowledges the vital role of the EFCC in combating economic crimes, money laundering and terrorism financing within the real estate sector.  These efforts are crucial to maintaining the integrity of our industry, ensuring it serves as a catalyst for national development rather than a haven for unscrupulous activities”,  he said.

    On the recovery and forfeiture of the Lokogoma’s apartments to the government,  Adeoye commended the judiciary “ for its decisive action in the final forfeiture ruling.  This judgment reinforces the commitment to upholding the rule of law and demonstrates a unified effort in combating corruption, aligning with the goals of your administration to ensure justice and accountability in Nigeria”.

 Justice Jude Onwuegbuzie  of the Federal Capital Territory, FCT, High Court, Abuja, granted the final  forfeiture of the 753 apartments  on December2, 2024.  The forfeiture was the largest single asset recovery of the EFCC.