The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has reaffirmed the Commission’s commitment to safeguarding recovered assets from being re-looted, assuring Nigerians that all forfeited properties will be channeled toward public benefit.
Olukoyede made this statement during a visit to the main campus of the newly established Federal University of Applied Sciences, Kachia, in Kaduna State. The university, formerly known as Nok University, was confiscated by the Federal Government following a final forfeiture order issued by the Federal High Court in Abuja in June 2024.
Nok University was founded in 2021 by Anthony Hassan, a former Director of Finance and Accounts at the Federal Ministry of Health. However, investigations by the EFCC revealed that Hassan had used embezzled public funds to acquire the institution, along with other assets including a water factory, hotel, and event center. Justice Joyce Abdulmalik ordered the final forfeiture of the assets after finding them to be proceeds of crime.
Speaking during his tour of the facility, Olukoyede emphasized the EFCC’s commitment to ensuring that recovered assets directly benefit the public.
“This is a testimony that good governance is possible in Nigeria,” he said. “President Bola Ahmed Tinubu has given us a clear directive to promote accountability and transparency. Never again will looted assets be re-looted. Nigerians deserve to enjoy the dividends of justice and accountability.”
He further explained that the transformation of the former Nok University into a federal institution was part of a broader strategy to return stolen wealth to the people.
“After recovery, the immediate community should be the first beneficiaries. That is why we are handing this university back to the people, under the directive of Mr. President. This initiative reflects a new era of transparency and responsible asset management,” Olukoyede said.
The EFCC Chairman also noted that similar projects funded by recovered assets were recently commissioned in Bayelsa State, including those built with funds retrieved from the Niger Delta Development Commission (NDDC).
“The handover of this project to the Ministry of Education was done openly at the Villa, and I assured Nigerians that the facility would be used exactly as directed by the President. Today, we are fulfilling that promise,” he added.
The Federal University of Applied Sciences, Kachia, is now set to begin operations, serving as a symbol of justice and a commitment to national development through the recovery and redistribution of looted public funds.
