“Stolen Wealth, Public Gain”: EFCC Boss Hands Over Forfeited University to Nigerians

|By Adejumo Adekunle –

Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has reaffirmed the agency’s commitment to ensuring that assets recovered from corrupt individuals are channeled into projects that directly benefit the Nigerian people.

Olukoyede made this declaration on Wednesday during his inspection visit to the Federal University of Applied Sciences in Kachia, Southern Kaduna — a facility formerly known as Nok University. The institution was forfeited to the federal government by court order after investigations revealed it was funded through illicit means.

In compliance with a presidential directive from President Bola Tinubu, the EFCC transferred ownership of the property for public use, converting it into an educational institution. “This property has been returned to the people,” Olukoyede stated. “Recovered assets will not be allowed to be relooted. It is no longer business as usual.”

He credited President Tinubu for the directive, while also acknowledging the roles of Vice President Kashim Shettima and Kaduna State Governor Uba Sani in facilitating the handover and conversion process.

Describing the infrastructure as world-class, Olukoyede urged local residents and stakeholders to protect the facility. “Most universities don’t have what we’re seeing here. It is now up to you to preserve it for future generations,” he remarked.

He announced that academic activities are scheduled to begin in September 2025 and promised to return to the university when students officially resume.

“This is what the fight against corruption is about,” he concluded, “returning stolen resources to the people.”