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The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has criticized calls for the creation of a single agency to handle all assets recovered by government agencies.
According to him, such a deal is not feasible given the scale of recoveries across the country.
There are strong calls from some groups and individuals for the creation of an agency to effectively manage confiscated assets.
Olukoyede, while briefing journalists in Abuja last week, disclosed that the anti-corruption body has obtained provisional and final confiscation orders covering 10,053 tangible assets under his leadership.
It listed the confiscated items as including real estate, vehicles, plots of land, electronic items, schools, factories, hotels, oil platforms, barges, machinery and aircraft, as well as 102 tons of solid minerals.
…Olukoyede refuses calls
But speaking on the ongoing debate on the management of confiscated assets by another government agency, the EFCC boss said such management would not achieve the desired results.
Rejecting the position in a post on his account
“Some are calling for a single agency to handle all recovered assets. It was tried in the UK at a cost of over £34 million and closed in a year. South Africa also tried it. Sixteen months. Look it up.”
“And consider the size here. Over 20 statutory agencies recover assets for the government. The police alone have divisions in almost all local governments and stations in most districts, all seizing assets. No single agency could handle police property alone, let alone everyone else’s.
“We should also remember AMCON, established to manage recovered assets: the government lost over $5 trillion there,” the anti-corruption boss said in his post.
According to him, the Proceeds of Crime Act provides a more appropriate framework by placing responsibility for recovered assets on the agencies that recovered them.
He said: “POCA got it right, putting the duty on each agency: What did you recover and what did you do with it? This, together with Section 31 of the EFCC Law, is the most effective model anywhere in the world. So respect it every agency.
“Ours is published on our website within 24 hours and our annual report has reached the National Assembly on time every year of my tenure. My commitment to Nigerians: Not a pin nor a penny of the recovered assets will be mismanaged under my watch.”
…APC chief seeks Atiku investigation
Meanwhile, Ntufam Hilliard Eta, former National Vice President of the All Progressives Congress (APC) in the South-South, has called on Nigeria’s anti-corruption agencies to immediately investigate allegations of financial crimes surrounding the African Democratic Congress (ADC) presidential candidate, Alhaji Atiku Abubakar.
Eta made the appeal on Tuesday while addressing journalists at the party’s national secretariat in Abuja, urging the EFCC and other relevant authorities to look into petitions and historical documents linked to Atiku, insisting that “no politician should be above the law”.
Eta, who is also president of the Natural Youth Service Corps (NYSC), said his call is rooted in equal justice rather than political persecution, stressing that public office should never serve as a shield against scrutiny.
“I called this press conference today because there are moments in the life of a nation when political considerations must give way to a higher principle: responsibility.
“Nigeria cannot build a credible democracy if accountability is applied selectively. Public offices must never become a shield against scrutiny, and political ambition must never become a reason for institutions to look away from credible allegations,” Eta said.
ETA cited specific historical issues and recent documents, including a September 1, 2026 petition submitted to the EFCC seeking the reopening of financial crime investigations dating back to 2005-2006.
He also referenced the findings of a 2010 US Senate investigation into offshore accounts, wire transfers and transactions linked to Atiku’s associates and family members.
ETA highlighted six key areas of allegations which required formal investigation by anti-corruption agencies.
Clarifying that its position does not constitute a guilty plea, ETA noted that the allegations have not been proven in court and must be properly examined by judicial authorities rather than in the public eye.
“Let me be absolutely clear; I am not asking anyone to convict Atiku Abubakar in the court of public opinion. I ask that the evidence be submitted to the court. If there is no case, let the relevant institution say so after examining the evidence. If there is not enough evidence, let them tell Nigerians. But if credible evidence shows that crimes have been committed, then the law must take its course,” the APC chief added.
ETA said: “We cannot have one standard when an accusation is made against a member of the ruling party and another standard when the accusation concerns an opposition politician seeking the presidency.
“I therefore call on the EFCC and other relevant authorities to examine every credible petition, obtain relevant documents, invite appropriate persons, follow the money where necessary and establish the facts without fear or favour.”
“This is not a call for mob justice. It is not a call for political persecution… It is a call for something much more fundamental; to let the evidence do the talking. Let the institutions investigate. Let the courts decide. No sacred cows. No political immunity. No selective justice. No media trials. Just evidence, due process and the law,” Eta noted.
