The Economic and Financial Crimes Commission, EFCC, has recovered N27 million belonging to the Federal University of Agriculture, Abeokuta following a long-standing property transaction dispute involving estate agents.
The Vice Chancellor of the institution, Olusola Babatunde Kehinde, said the money was originally paid in 2011 for the purchase of properties meant to serve as the university’s Abuja liaison office and guest house.
He explained that the deal failed due to administrative and legal issues, which prevented the university from taking possession of the buildings.
“The arrangement failed due to administrative and legal complications, preventing the university from taking possession of the buildings,” he lamented.
According to the university, several attempts to resolve the issue were unsuccessful, leading it to seek the intervention of the EFCC.
The anti-graft agency reportedly investigated the matter for about two years before recovering the funds, which were eventually returned to the university in April 2026.
The university also confirmed that individuals connected to the transaction have been charged to court by the EFCC.
Kehinde praised the EFCC for the recovery, describing it as a major institutional achievement.
“The successful recovery is not only a significant institutional achievement for UNAAB, but also part of the EFCC’s commendable success story in safeguarding public resources,” he said.
