EFCC’S crackdown on real estate based money laundering investigation apt- Deji Adeyanju

Deji Adeyanju Human Rights Activists and Lawyer has  cocommended the Chairman of Economic and Financial Crimes Commission (EFCC)  Olanipekun Olukoyede, for launching a robust investigation into real estate–related money laundering, particularly in Abuja and Lagos. His initiative addresses long-standing concerns regarding the ownership of luxury estates by civil servants and security personnel, many of whom cannot justifiably explain their wealth. As noted, “most houses in Asokoro and Maitama are owned by civil servants”.

We have consistently advocated for more rigorous oversight in the real estate sector, especially given the rapid inflation of housing rents in the capital, often fuelled by illicit funds. These estates, frequently used as venues for laundering stolen public funds, have remained underregulated for far too long.

Chairman Olukoyede’s move to activate a special EFCC team to investigate and trace these properties, including the filing of forfeiture proceedings against over 15 estates, is a commendable step toward transparency and accountability.

I fully support this bold stance and call on the EFCC to sustain and deepen its efforts to stem money laundering through real estate across our cities.

DEJI ADEYANJU, ESQ.