The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has said the commission is considering appealing a Federal High Court ruling that dismissed its application for the final forfeiture of nine properties linked to former Attorney-General of the Federation and Minister of Justice, Abubakar Malami.
“Even the nine that were left for him, I’m considering filing an appeal so that we can take everything away from him. And we’re going to do that,” Olukoyede said.
He 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, themed “Asset Recovery and the Rule of Law – Taking the Profit Out of Crime,” brought together law enforcement officials, judges, prosecutors and experts from different countries to discuss strategies for recovering proceeds of crime.
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EFCC Traced 57 Properties
Olukoyede said the commission began investigating Malami following what he described as reasonable suspicion of criminal abuse of office during his tenure as Attorney-General.
According to him, the EFCC traced 57 properties to the former minister and had secured final forfeiture orders over 48 of them.
“Sometimes last year, I opened investigations upon reasonable suspicion of criminal abuse of office by the immediate past Attorney-General of Nigeria.
“We discovered that within eight years of his being in office, we were able to trace about 57 such properties to him. We’ve been able to forfeit about 48,” he said.
Court Dismissed Application on Nine Properties
The development followed a July 15 ruling by the Federal High Court in Abuja, which ordered the final forfeiture of 48 properties linked to Malami.
The properties had earlier been placed under an interim forfeiture order in January.
Justice Joyce Abdulmalik held that the EFCC had established sufficient grounds for the final forfeiture of the 48 properties, which the commission alleged were proceeds of unlawful activities.
However, the judge dismissed the application concerning nine other properties located in Kebbi and Kaduna states, ruling that the EFCC failed to establish that they were acquired through unlawful means.
Olukoyede said the commission was considering an appeal against the decision.
Olukoyede Defends Civil Forfeiture
The EFCC chairman said the commission’s use of civil forfeiture had strengthened its ability to recover suspected proceeds of crime without waiting for criminal trials to be concluded.
He identified effective asset tracing, credible intelligence and judicial support as key factors in the success of non-conviction-based asset forfeiture.
Olukoyede also called for greater public participation in the recovery of stolen Nigerian assets, particularly those moved outside the country.
EFCC to Reward Whistleblowers
The EFCC chairman disclosed that whistleblowers whose information leads to the recovery of stolen Nigerian assets would receive between 2.5 per cent and five per cent of the recovered assets.
“The citizens must be encouraged with your whistleblower protection.
“If any of you is privy to where Nigerian asset is stolen or taken to anywhere in the world, we have an incentive for you. Between 2.5 and 5 percent is going to go back to you upon recovery,” he said.
He urged members of the public to provide credible information that could assist the commission in tracing and recovering suspected illicit assets.
“You can never tell, if you give me any information, some of you here may leave this place a multi-millionaire in dollars before the end of this month,” Olukoyede said.
He stressed that reliable intelligence from citizens remained critical to asset recovery efforts, especially where suspected proceeds of crime had been moved across international borders.
Rafiyat Sadiq is a political, justice, and human rights reporter with Pinnacle Daily, known for fearless reporting and impactful storytelling. At Pinnacle Daily, she brings clarity and depth to issues shaping governance, democracy, and the protection of citizens’ rights.