EFCC Chairman Says Forfeited Private University VC Lodge Bigger Than Aso Rock Residence
The Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede, has said that a private university recently forfeited to the Federal Government has a vice-chancellor’s lodge that is likely bigger than President Bola Tinubu’s official residence in Aso Rock Villa.
Olukoyede disclosed this in a video posted on his official X account on Friday, September 4, 2026. He said the Commission is converting assets recovered from crime into public use.
He cited NOK University in Kachia, Kaduna State, which was forfeited and converted into the Federal University of Applied Sciences, Kachia, FUASK. According to him, 1,909 students matriculated at the new federal university in December 2025. He added that the institution is expected to boost the economy of Southern Kaduna.
The EFCC chairman also disclosed that another high-value private university has been finally forfeited to the Federal Government.
“You need to get to that university. It has a 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,” Olukoyede said.
While he did not name the institution, EFCC filings and reports link the description to Rayhaan University in Kebbi State.
According to the EFCC, a final forfeiture order secured on July 15, 2026 covered the university’s permanent site, temporary site, a third site, its radio station, and the vice-chancellor’s residence. The properties were linked to a former Attorney-General of the Federation, Abubakar Malami, SAN.
Olukoyede said the EFCC’s asset recovery drive is now focused on putting recovered wealth into productive use. He stated that anti-corruption enforcement can restore physical assets, strengthen government revenue, and support financial market integrity.
The EFCC said between October 2023 and July 2026, it secured the interim or final forfeiture of 10,053 assets. The assets include real estate, land, vehicles, schools, factories, hotels, oil rigs, barges, machinery, aircraft, and 102 tonnes of solid minerals.
Proceeds from disposals under final forfeiture orders have so far returned 12.07 billion naira to the Federal Government.
The Commission also said it recovered 1.233 trillion naira and secured 10,872 convictions between October 2023 and July 2026.
