EFCC Transfers Forfeited Properties Linked to Ex-Governor Chimaroke Nnamani to AMCON in Enugu
In a significant development that underscores ongoing efforts to recover assets linked to financial crimes, the Economic and Financial Crimes Commission (EFCC) has officially handed over several properties forfeited by Rainbownet Nigeria Limited a company reportedly owned by former Enugu State Governor, Chimaroke Nnamani to the Asset Management Corporation of Nigeria (AMCON).
The formal handover took place on Thursday, May 29, 2025, at the EFCC Zonal Office in Enugu, where representatives of both government agencies gathered to complete the transfer of the assets.
The properties involved in the handover include a collection of residential buildings and business premises. Specifically, they comprise one bungalow, a wire house, and three duplexes located at No. 3/4 Pocket Estate, Independence Layout, Enugu. Also handed over were 12 rooms of a one-storey semi-detached building situated at No. 35B Abakaliki Road, Enugu. Additionally, the EFCC transferred ownership of two six-room duplexes located at Nos. 3A and 3C Mount Street, Park Avenue, Enugu.
Speaking during the ceremony, Assistant Commander of the EFCC, ACE I Aisha Abubakar, who represented the Executive Chairman, Mr. Ola Olukoyede, emphasized the agency’s unwavering commitment to combating corruption and financial crimes across the country. She highlighted the synergy between the EFCC and AMCON, stressing that their joint efforts are yielding tangible results in the recovery of assets linked to economic crimes.
According to Abubakar, the EFCC remains resolute in fulfilling its constitutional responsibilities, which include investigating, prosecuting, and recovering assets acquired through unlawful means. She stated that the handover followed the completion of due diligence and final verification of the properties earlier that day.
“We have always maintained a productive working relationship with AMCON. The EFCC’s Proceeds of Crime Management Department, which played a central role in this case, collaborated closely with your team to ensure this process reached a successful conclusion. Our Executive Chairman has authorized us to formally hand over these properties to AMCON, following your readiness to assume possession,” Abubakar explained.
In response, John Abuh, Resolution Officer at AMCON, conveyed appreciation for the EFCC’s professionalism and support throughout the recovery process. He noted that the properties in question were previously linked to unresolved financial obligations and that AMCON had made formal requests to take over the assets, which were later approved by the EFCC.
“We appreciate the efforts made by the EFCC, especially the Enugu Zonal Office. The cooperation between our two institutions has been commendable. From the moment we initiated communication, there was a smooth and responsive exchange of correspondence, which has led us to this moment. We are particularly grateful to the Acting Zonal Director and her team for their assistance in finalizing the handover,” Abuh said.
This development marks another milestone in Nigeria’s broader anti-corruption campaign and asset recovery initiative, as relevant agencies continue to identify and reclaim properties acquired through alleged misuse of public office or economic misconduct. The transfer of these properties is expected to enhance AMCON’s efforts in managing assets acquired through debt resolution strategies, ultimately contributing to the country’s economic stability.
