• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Thursday, August 28, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

‘Many Abandoned Abuja Estates Owned By Corrupt Civil Servants’, Says EFCC Chair

by Nafisat Abdulrahman
3 weeks ago
in News
Ola Olukoyede

Ola Olukoyede, Chairman of Economic and Financial Crimes Commission (EFCC)

Share on WhatsAppShare on FacebookShare on XTelegram

Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has revealed that a significant number of abandoned estates in Abuja and other parts of Nigeria were owned by civil servants who used stolen public funds to finance their construction.

Advertisement

Olukoyede made the disclosure on Wednesday while speaking at a policy dialogue organised by Law Corridor in Abuja, themed “Critical Issues Affecting Nigeria’s Real Estate Ecosystem.”

According to him, some of the estates have been left incomplete and unoccupied for over a decade due to the sudden halt in illegal financial inflows once their civil servant-owners exit public office.

“It will shock you that some of these estates have been abandoned for 10 to 20 years,” he said. “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.”

He further revealed that the EFCC has now set up a special team tasked with visiting and investigating all such properties nationwide to trace their true ownership.

RELATED

Nathaniel Bassey’s ‘Halleluyah Challenge’ Goes To Kirikiri Prison

Nathaniel Bassey’s ‘Halleluyah Challenge’ Goes To Kirikiri Prison

2 hours ago
African Defence Chiefs Forge United Front Against Terrorism, Cyber Threats

African Defence Chiefs Forge United Front Against Terrorism, Cyber Threats

4 hours ago
ADVERTISEMENT

“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,” Olukoyede stated.

The anti-graft boss noted that the commission has already initiated forfeiture proceedings on about 15 estates and warned that more legal actions were underway.

“We have gotten more intelligent, 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,” he said, addressing stakeholders at the event.

ADVERTISEMENT

While acknowledging that some investors and developers have legitimate sources of capital, Olukoyede cautioned lawyers and real estate practitioners against enabling money laundering.

“I know some of you have your genuine source of capital. But do not lend yourself as a willing tool in the hands of those who engage in money laundering,” he warned.

Also speaking at the event, Afam Osigwe, President of the Nigerian Bar Association (NBA), emphasised the urgent need for a centralised property registry to enable verification of ownership and reduce fraud in the real estate sector.

He also raised concerns over the arbitrary revocation of land titles by authorities on the basis of unpaid ground rent, warning that such actions could deter foreign investment.

“We need a centralised system to verify ownership. And we must be careful with arbitrary revocations—it sends the wrong signal to foreign investors,” Osigwe said.

Adding to the conversation, Ayokunle Erin, Practice Group Lead for Real Estate, Construction, and Infrastructure at Law Corridor, highlighted Nigeria’s persistent housing shortfall, which stands between 17 to 20 million units. He stressed that despite the massive demand, annual supply remains abysmally low.

“In Abuja, for example, only about 5,000 units were constructed in 2024, satisfying less than 10 percent of the city’s needs,” Erin disclosed.

He attributed the dire state of the sector to deep-rooted policy failures, legal loopholes, and a lack of regulatory enforcement, which have created a fertile ground for fraudsters, unlicensed agents, and quacks to thrive.


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: Economic and Financial Crimes Commission (EFCC)Ola Olukoyede
SendShare10184Tweet6365Share
ADVERTISEMENT
Previous Post

Doyin Abiola Led Me Up Media Corporate Ladder — Alake

Next Post

Tinubu Condoles President Mahama Over Ghana Air Tragedy

Nafisat Abdulrahman

Nafisat Abdulrahman

I am a dedicated reporter at Leadership Newspaper, where I bring a keen eye for detail and a passion for storytelling to a diverse range of topics, including business, sports, politics, and international affairs. My work aims to provide readers with accurate, timely, and engaging reports that break down the complexities of current events. From covering high-profile political shifts and court cases to exploring the latest in economic developments and sporting events, I strive to offer insightful and comprehensive coverage. My stories include in-depth analyses of economic trends, detailed political reports, and human interest pieces that highlight significant global and local events. I am committed to delivering news that informs and fosters a deeper understanding of the issues shaping our world. My goal is to engage readers with well-researched and thought-provoking content

You May Like

Nathaniel Bassey’s ‘Halleluyah Challenge’ Goes To Kirikiri Prison
Entertainment

Nathaniel Bassey’s ‘Halleluyah Challenge’ Goes To Kirikiri Prison

2025/08/28
African Defence Chiefs Forge United Front Against Terrorism, Cyber Threats
News

African Defence Chiefs Forge United Front Against Terrorism, Cyber Threats

2025/08/27
BBN S10: ‘That’s Me 100%,’ Gigi Jasmine Defends Frequent Teary Eyes
Entertainment

BBN S10: ‘That’s Me 100%,’ Gigi Jasmine Defends Frequent Teary Eyes

2025/08/27
Tinubu Departs Abuja For Japan
News

Tinubu Departs Brazil En Route Abuja

2025/08/27
JUST-IN: Davido, Rema, Others Top As AFRIMA Releases 2025 Nominations List
Entertainment

JUST-IN: Davido, Rema, Others Top As AFRIMA Releases 2025 Nominations List

2025/08/27
Federal Gov’t Orders Shutdown Of Illegal Gold Mining Site In Gwagwalada
News

Federal Gov’t Orders Shutdown Of Illegal Gold Mining Site In Gwagwalada

2025/08/27
Leadership Conference advertisement

LATEST

Nathaniel Bassey’s ‘Halleluyah Challenge’ Goes To Kirikiri Prison

Bayern Defeat Wiesbaden 3-2 In Dramatic German Cup Clash

African Defence Chiefs Forge United Front Against Terrorism, Cyber Threats

BBN S10: ‘That’s Me 100%,’ Gigi Jasmine Defends Frequent Teary Eyes

Tinubu Departs Brazil En Route Abuja

Tennis Scoring System

JUST-IN: Davido, Rema, Others Top As AFRIMA Releases 2025 Nominations List

Federal Gov’t Orders Shutdown Of Illegal Gold Mining Site In Gwagwalada

Niger Delta People Live On $2 Daily Despite $1trn Oil Revenue — INC

BBNaija10: Dede, Kola Spark Intimacy Rumours After Late-night Moment

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.