Few stories about corruption stun Nigerians. But the report that the Economic and Financial Crimes Commission (EFCC) has executed a forfeiture of 753 duplexes and other apartments came as a scandal of the first rank. Many Nigerians jaws dropped.

The news has brought with it quite a few puzzles. The commission said it belonged to a top government operative who had been fired from office. Eyes and speculations pointed to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele.

First, there was silence in the Emefiele camp. Neither his lawyers nor his publicists responded. This is curious because the EFCC characterisation fitted him, and it was in his interest and that of truth for him to clarify the situation. Not a few people believed he was the culprit. His silence is being calculated as guilt.

But the EFCC complicated the story implying that it did not identify the culprit. Here is EFCC spokesman Dele Oyewale’s response:

The allegation of a cover-up of the identity of the promoters of the estate stands logic on the head in the sense that the proceedings for the forfeiture of the estate were in line with Section 17 of the Advance Fee Fraud Act, which is a civil proceeding that allows for action-in-rem rather than action-in-personam.

“The latter allows legal actions against a property and not an individual, especially in a situation of an unclaimed property. This Act allows you to take up a forfeiture proceeding against a chattel who is not a juristic person. This is exactly what the commission did in respect of the estate. Individual in situations of unclaimed assets.”

The cat had been let out of the bag. It was a legal and procedural remorse from the agency, but it had already imbued the public with the facts. It is regarded as a sort pf scandal within a scandal by a section of the public that the agency was hiding the facts in legalese, especially by arguing that since it is not a crime of one person, it did not merit public consumption. However, the matter was heard in court, and for that to happen, the judge must know the rigour and details of the investigation.

Investigations now show that Emefiele was suspected to be the culprit and he acted through facades.

The document showed, among other things, that he operated through other individuals and also companies.

For instance, the investigation showed that the former CBN chief connived with Ifeanyi Omeke who “ran several errands for him, which included purchase and perfection of title documents for the properties.

Investigators located the property on September 17, 2024 “with the assistance of a surveyor from the Abuja Geographical Information Systems, using search results and coordinate,” the document revealed.

Three companies paid N2.2bn for the property “in criminal maneuvering of layering proceeds of illegal activities of Mr. Godwin Emefiele.”

The property with 753 duplexes and other apartments are located in the Cadastral Zone area of the capital city.

The story is a reflection of a corrupt routine in the plunder of the Nigerian patrimony. They install fronts, so as to conceal their larcenies.

The recovery followed a ruling delivered on December 2, 2024, by Justice Jude Onwuegbuzie of the FCT High Court in Apo. But if this came to light, it is because many public officers have been able to conceal their acts. Blessed are those whose sins are covered. Emefiele’s apparently is not. The EFCC investigation did not limit the indictment to Abuja. Lagos State is also in the picture but that, perhaps, is also under investigation.

There are still assumptions and questions. Are the 753 duplexes fruits of the former CBN’s cases presently under prosecution?

They include procurement fraud, forgery of former President Muhammadu Buhari’s signature, and a few other charges. A fraud case involves $4.5bn and N2.8bn and the printing of N684.5m notes at the cost of N18.96bn.

“The commission whilst investigating the alleged monumental fraud carried out by the immediate past Governor of the CBN and his cronies traced and discovered several properties reasonably suspected to have been acquired and or developed with proceeds of unlawful activities,” noted the EFCC.

The report said the former CBN governor “negotiated kickbacks in return for allocation of foreign exchange to some companies who were in desperate need of foreign exchange for their lawful and legitimate businesses.”

The revelation that it was originally meant for a “mass housing development” is curious. Is it a government programme appropriated for personal use? Again, if three companies paid N2.2bn to buy the property, what are their names? If the EFCC says it will not mention a person but a chattel, who are the corporate concerns?

The 753 duplexes may be a fruit of corruption, but they are a boon to the country. If the EFCC describes it as the single largest corruption recovery, it cheers the heart that this corrupt find is not in Dubai, or the United Kingdom or the United States, or any of the shadowy communities outside the country in islands and archipelagoes that fascinate our official thieves. This is a find we can use.

This is bigger than rice or beans acquired at the border by the Nigerian Customs. It is not a fleet of cars that they auction off. This is a thriving property which is doubly beneficial to many citizens. Though they are uncompleted for most part, the Federal Government can sell them to willing buyers and help with shelters for Nigerians.

Two, the proceeds will be useful as resources for development.

The EFCC has, in the past year, recovered billions of naira that have been ploughed into important projects like the student loans scheme. We can say, under Olanipekun Olukoyede, this has been a very fruitful war on filth. We urge him to continue, even if the commission has been dodgy on the identity of the thief. In due course, it will come to light from its own portal, though they have done it without admitting.

But in allocating the homes, we need transparency. Nigerians should be told how each of the units is sold and for how much. Many will recourse to their math heads to ascertain how much the government raked in from this “venture.” We must make sure that this corruption find “pays.” (The Nation Editorial)