The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has disclosed that a university seized through a forfeiture case has been transformed into a fully operational federal institution.
In a video and post shared on his official X account on Friday, Olukoyede said the former NOK University campus in Kachia, Kaduna State, was converted into the Federal University of Applied Sciences, Kachia (FUASK) after its final forfeiture to the Federal Government.
In December 2025, 1,909 students matriculated at the institution.“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 stated.
He noted that the university is expected to generate broader economic benefits for its host community in Southern Kaduna.
Olukoyede also revealed that another high-value private university had recently been finally forfeited to the Federal Government.
He described the campus in Kebbi State as having both temporary and permanent sites, and singled out the vice-chancellor’s residence as being exceptionally large.
Although he did not name the institution in the post, the description matches Rayhaan University in Kebbi State.
The EFCC secured a final forfeiture order for the university’s permanent site, temporary site, a third site, its radio station, and the vice-chancellor’s residence on July 15, 2026.
The properties were linked to a former Attorney-General of the Federation.Beyond the universities, Olukoyede said the EFCC’s enforcement efforts between October 2023 and July 2026 had recovered significant value for the economy.
The Commission secured the forfeiture of 10,053 assets, including 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 emphasised that the recoveries go beyond punishment, helping to strengthen government revenue, protect financial market integrity, and create a deterrent effect.
“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 in which the EFCC reported recovering ₦1.233 trillion in naira (plus sums in foreign currencies) and securing 10,872 convictions between October 2023 and July 2026.