The Economic and Financial Crimes Commission (EFCC) plans to challenge a court decision that dismissed its application to permanently forfeit nine properties linked to former Attorney-General of the Federation, Abubakar Malami.
EFCC Chairman Ola Olukoyede disclosed this on Wednesday while speaking at the 43rd Cambridge International Symposium on Economic Crime at Jesus College, University of Cambridge, United Kingdom.
The 2026 symposium focused on “Asset Recovery and the Rule of Law – Taking the Profit Out of Crime”, bringing together law enforcement officials, judges, prosecutors and other experts to discuss strategies for recovering proceeds of crime.
Olukoyede said the EFCC traced 57 properties to Malami during an investigation into suspected criminal abuse of office and had already secured final forfeiture of 48 of them.
He said the commission was considering an appeal over the remaining nine properties, which are located in Kebbi and Kaduna states.
“Even the nine that were left for him, I’m considering filing an appeal so that we can take everything away from him.”
Court Forfeits 48 Properties
The development follows a recent ruling by the Federal High Court in Abuja, which ordered the final forfeiture of 48 properties linked to the former AGF.
The properties had initially been placed under an interim forfeiture order in January.
In its July 15 ruling, the court found that the EFCC had established that the 48 properties were proceeds of suspected unlawful activities.
However, Justice Joyce Abdulmalik dismissed the commission’s application concerning nine other properties, ruling that the EFCC had not sufficiently established that they were acquired through unlawful means.
Olukoyede said the EFCC’s use of civil forfeiture allows the agency to pursue assets suspected to be proceeds of crime without necessarily waiting for criminal trials to be concluded.
He identified asset tracing, judicial support and reliable intelligence as important elements in successful non-conviction-based asset recovery.
EFCC Offers Whistleblowers Up to 5%
The EFCC chairman also announced that whistleblowers could receive between 2.5 and 5 per cent of recovered assets when information they provide leads to the recovery of stolen Nigerian funds or property.
He encouraged members of the public to share credible information that could help the commission trace assets allegedly moved out of Nigeria.
Olukoyede said the financial incentive was intended to encourage people with useful information to come forward while also emphasising the importance of protecting whistleblowers.
According to him, successful recovery could result in substantial rewards for individuals whose information directly assists the EFCC.
He maintained that credible information from the public remains crucial to the commission’s efforts to trace and recover assets linked to financial crimes.
Source: Economic and Financial Crimes Commission (EFCC).
