The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has said a university recovered from a forfeiture case has since become a fully functioning federal institution, with 1,909 students matriculated into it in December 2025.
Olukoyede, in a video and accompanying post shared on his official X account on Friday, said the recovered campus, formerly NOK University in Kachia, Kaduna State, was converted into the Federal University of Applied Sciences, Kachia (FUASK) following its final forfeiture to the Federal Government.
“A university seized from crime is now a federal university. The recovered campus in Kaduna State became the Federal University of Applied Sciences, and in December 2025, 1,909 students matriculated there. Young people who, in the ordinary course of things, would never have seen the inside of a lecture hall,” he said.
He added that the institution was already expected to have a wider economic impact on its host community, Southern Kaduna.
Olukoyede also disclosed that another private university, which he described as “high value,” had recently been finally forfeited to the Federal Government, citing an unusually large house built for the institution’s vice-chancellor.
“You need to get to that university in Kebby. It has temporary site and permanent site.
“The house that was built for the vice-chancellor alone is probably bigger than the president’s house in the villa. The picture is all over the place. If you Google it now, you will see the pictures,” he stated.
The EFCC chairman did not name the university in the post, but his reference to a campus with both a temporary and a permanent site is consistent with Rayhaan University in Kebbi State, whose final forfeiture, alongside dozens of other properties linked to a former Attorney-General of the Federation, was secured by the EFCC on July 15, 2026.
That forfeiture order covered the university’s permanent site, temporary site, a third site, its radio station, and a residence built for its vice chancellor.
Beyond the two universities, Olukoyede said the Commission’s enforcement work over the past three years had gone beyond punishment to actively return recovered value into the economy.
“Beyond cash, between October 2023 and July 2026 we secured the forfeiture of 10,053 assets: real estate, land, vehicles, electronics, schools, factories, hotels, oil rigs, barges, machinery and aircraft, along with 102 tonnes of solid minerals. Disposals so far have returned ₦12.07 billion to the Federal Government,” he added.
He said the broader impact of the Commission’s recoveries extended to strengthening government revenue, protecting financial-market integrity, and producing what he called a “deterrent dividend.”
“This is what enforcement looks like when it moves beyond punishment. Every asset taken from a criminal enterprise lowers the reward for the next one — and some of it comes back as a classroom,” he added.
The remarks form part of a broader scorecard the EFCC chairman has recently presented, in which the Commission disclosed recovering ₦1.233 trillion in naira, along with sums in foreign currencies, and securing 10,872 convictions between October 2023 and July 2026.
(Punch)
