EFCC Chair Vows to Prevent Re-looting of Recovered Assets

The Economic and Financial Crimes Commission (EFCC) has unequivocally assured Nigerians that it will never again permit the relooting of assets recovered from corrupt individuals. This resolute commitment was underscored by the EFCC Chairman, Mr. Ola Olukoyede, during his recent visit to the main campus of the newly established Federal University of Applied Sciences in Kachia, Kaduna State.
The institution, now a federal university, was formerly known as Nok University, a private establishment founded in 2021 by Anthony Hassan, a retired Director of Finance and Accounts at the Federal Ministry of Health. In June 2024, a Federal High Court in Abuja issued a final order of forfeiture, ruling that the university, along with other assets such as a hotel, a water factory, and an event center, was established using proceeds of corruption. This forfeiture marks a significant milestone in Nigeria’s anti-corruption efforts.
During his visit, Chairman Olukoyede highlighted that the successful forfeiture and repurposing of these properties demonstrate the tangible possibility of good governance in Nigeria. He emphasized President Bola Ahmed Tinubu's direct mandate to the EFCC to ensure the delivery of good governance and accountability. Olukoyede stated, “Never in the history of this country are we going to allow recovered assets to be relooted again. So, this is a testimony of accountability, it is a testimony of transparency, it is a testimony of judicious use of recovered assets.”
The EFCC Chairman further elaborated that Nigerians deserve to benefit directly from the proceeds of accountability. He cited the example of the Kachia university, explaining that President Tinubu specifically directed its handover to the Ministry of Education. Olukoyede also mentioned a recent visit to Bayelsa State to commission projects built with funds recovered from the Niger Delta Development Commission (NDDC), signaling a new operational paradigm for the EFCC where recovered assets are strategically channeled towards public benefit.
The transformation of Nok University into a federal institution serves as a powerful testament to the effectiveness of the anti-corruption war. Olukoyede challenged skeptics, asserting, “Let the naysayers who think nothing good can come out of anti-corruption war in Nigeria know this. This is a testimony that the corruption war is working and it is going to work for the benefit of Nigerians.”
Several key stakeholders praised this development. Senator Sunday Katung, representing Kaduna South Senatorial District, commended the EFCC and expressed gratitude to President Tinubu, Vice President Kashim Shettima, and Governor Uba Sani for making the university a reality, likening its establishment to a