The Economic and Financial Crimes Commission (EFCC) has explained its decision to conceal the identity of the owner of a recently recovered estate.

The EFCC had on Monday, announced the recovery of 753 duplexes and other apartments on Plot 109 Cadastral Zone C09, Lokogoma District, Abuja.

The agency described as the largest single asset recovery in its history.

The commission, however, faced criticism from many Nigerians for not disclosing the identity of the owner of the asset.

Among the critics is the former presidential candidate of the African Action Congress, Omoyele Sowore, who accused the EFCC of being afraid of confronting “big thieves.”

Reacting in a statement on Tuesday by the EFCC’s Head of Media and Publicity, Dele Oyewale, the anti-graft agency stated that its actions were guided by the legal framework governing forfeiture proceedings and a commitment to professionalism.

Oyewale explained that the forfeiture of the estate followed civil proceedings under Section 17 of the Advance Fee Fraud Act. This legal provision allows for action-in-rem—a process targeting property rather than individuals—particularly in cases of unclaimed assets.

He said, “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.”

Oyewale disclosed that actionable intelligence led to investigations into the estate.

During the process, he said a company initially flagged as the likely owner denied any links to the property after public notices were published in leading national newspapers.

“On the basis of this, the commission approached the court for an order of final forfeiture which Justice Jude Onwuegbuzie of the Federal Capital Territory, FCT, High Court granted on Monday, December 2, 2024,” he added.