The Economic and Financial Crimes Commission has recovered N27 million belonging to the Federal University of Agriculture, Abeokuta following a prolonged property transaction dispute involving estate agents.
Vice Chancellor of the institution, Olusola Babatunde Kehinde, disclosed that the funds were originally paid in 2011 for the acquisition of properties intended to serve as the universityās Abuja liaison office and guest house.
āThe arrangement failed due to administrative and legal complications, preventing the university from taking possession of the buildingsā he lamented
According to the university, efforts to resolve the matter proved unsuccessful, prompting the institution to seek the intervention of the EFCC.
The anti-graft agency reportedly investigated the case for two years before recovering the funds, which were remitted to the university in April 2026.
The university also confirmed that suspects connected to the transaction have been charged to court by the Commission.
Kehinde commend EFCC for the successful recovery of the funds.
āThe successful recovery is not only a significant institutional achievement for UNAAB, but also part of the EFCCās commendable success story in safeguarding public resources,ā he said.
EFCC recovers N27m for FUNAAB after 15 years property dispute
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