By Erewunmi Peace

The Economic and Financial Crimes Commission (EFCC) has secured the final forfeiture of Galaxy Hospital in Maiduguri, over N333 million, several petrol stations, and landed properties across four states to the Federal Government of Nigeria.

Justice Emeka Nwite of the Federal High Court in Abuja delivered the ruling following a motion filed by EFCC counsel, Ekele Iheanacho, for the final forfeiture of the assets earlier placed under interim forfeiture on August 13, 2024.

According to court documents, the forfeited properties include:

Galaxy Hospital, Maiduguri

Five petrol filling stations located in Borno, Kaduna, and Maiduguri

Residential and commercial properties in the Federal Capital Territory (FCT), Nasarawa, Borno, and Niger States

Bank accounts belonging to Galaxy Global Energy Limited, Galaxy Transportation and Construction Services, and Galaxy Freight Agencies, totaling over N333 million

The EFCC stated that the forfeited assets were linked to proceeds of unlawful activities, and that no one had come forward to challenge the forfeiture or lay claim to the properties during the stipulated period.

Justice Nwite declared that all the assets be permanently transferred to the Federal Government, in line with the provisions of the EFCC Act.

This ruling marks another milestone in the EFCC’s ongoing efforts to clamp down on economic and financial crimes, and reclaim ill-gotten assets for public benefit.

The interim forfeiture order was granted in 2024, following investigations into suspicious financial activities and property acquisitions by several companies allegedly connected through shell operations and money laundering schemes.

The judgment underscores the EFCC’s growing momentum in asset recovery and anti-corruption efforts across the country. It also serves as a stern warning to individuals and entities involved in fraudulent wealth accumulation.