FUNAAB hails EFCC over recovery of N27m trapped with estate agents

The Federal University of Agriculture, Abeokuta, Ogun State, has commended the Economic and Financial Crimes Commission, EFCC, for recovering N27 million belonging to the institution.

The Vice Chancellor of the university, Professor Olusola Babatunde Kehinde, conveyed the appreciation in a letter addressed to the Executive Chairman of the EFCC, Mr. Ola Olukoyede.

Kehinde praised the commission for what he described as its “professionalism, resilience and commitment” in ensuring the successful recovery of the money.

According to the university, the recovered funds were paid in 2011 for a property arrangement meant to provide an Abuja Liaison Office and Guest House for the institution.

However, the project was stalled by several administrative and legal challenges, making it impossible for the university to take possession of the buildings.

After years without a resolution, the university approached the EFCC for assistance in recovering the funds.

The commission investigated the matter for two years before eventually recovering and remitting the money to the university in April 2026.

Kehinde said the university deeply appreciated the EFCC’s efforts in ensuring justice and accountability in the matter.

He noted that the recovery was not only a major institutional achievement for the university, but also another example of the EFCC’s role in protecting public resources and strengthening confidence in the fight against economic and financial crimes in Nigeria.

The EFCC also charged the suspects connected to the matter to court.

Kehinde said the intervention had further reinforced the university’s confidence in the integrity and effectiveness of the commission.