The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has disclosed that a university recovered through a forfeiture case has been converted into a fully operational federal institution, with 1,909 students matriculated in December 2025.
Olukoyede made the disclosure in a video and accompanying post shared on his official X account on Friday. He said the recovered institution, formerly known as NOK University in Kachia, Kaduna State, was converted into the Federal University of Applied Sciences, Kachia (FUASK) after its final forfeiture to the Federal Government.
“A university seized from crime is now a federal university,” Olukoyede said. “The recovered campus in Kaduna State became the Federal University of Applied Sciences, and in December 2025, 1,909 students matriculated there.”
According to him, the development has provided access to higher education for young people who might otherwise not have had the opportunity to attend a university.
He added that the institution was expected to generate broader economic benefits for its host community in Southern Kaduna.
The EFCC chairman also disclosed that another high-value private university had recently been finally forfeited to the Federal Government. He cited the size of a residence reportedly built for the institution’s vice-chancellor as an indication of the scale of the assets involved.
“You need to get to that university in Kebbi. It has a temporary site and permanent site,” Olukoyede said.
“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.”
Although Olukoyede did not name the institution, his description of a university with temporary and permanent sites is consistent with Rayhaan University in Kebbi State.
The EFCC secured the final forfeiture of the university, along with dozens of other properties linked to a former Attorney-General of the Federation, on July 15, 2026. The forfeiture order covered the university’s permanent and temporary sites, a third site, its radio station and a residence built for its vice-chancellor.
Olukoyede said the Commission’s enforcement activities over the past three years had moved beyond punishment to the recovery and reintegration of assets 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,” he said.
He added that proceeds from the disposal of some of the recovered assets had so far returned ₦12.07 billion to the Federal Government.
According to the EFCC chairman, the impact of the recoveries extends beyond direct revenue generation to strengthening government finances, protecting the integrity of the financial system and creating a deterrent effect against economic crimes.
“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 said.
The remarks form part of a broader performance scorecard recently presented by the EFCC chairman. The Commission said it recovered ₦1.233 trillion in naira, in addition to funds in foreign currencies, and secured 10,872 convictions between October 2023 and July 2026.
