The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has highlighted the conversion of a university recovered through a forfeiture proceeding into a federal institution, saying 1,909 students were matriculated there in December 2025.
Olukoyede made the disclosure in a video and accompanying post shared on his official X account on Friday, September 4.
He said the institution, formerly NOK University in Kachia, Kaduna State, was taken over by the Federal Government after its final forfeiture and subsequently converted into the Federal University of Applied Sciences, Kachia (FUASK).
“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 said.
According to the EFCC chairman, the institution is also expected to generate broader economic benefits for Southern Kaduna, where it is located.
Olukoyede further disclosed that another private university he described as “high value” had recently been finally forfeited to the Federal Government.
He drew attention to the size of a residence constructed for the university’s vice-chancellor, which he said was unusually large.
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“You need to get to that university in Kebby. It has 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,” he stated.
Although Olukoyede did not identify the university, the details he provided correspond with Rayhaan University in Kebbi State.
The EFCC secured the final forfeiture of the institution, along with dozens of other properties linked to a former Attorney-General of the Federation, on July 15, 2026.
The forfeiture covered the university’s permanent and temporary sites, a third site, its radio station and a residence reportedly built for its vice-chancellor.
Olukoyede said the Commission’s enforcement activities over the past three years had focused not only on prosecuting offenders but also on recovering assets and returning their value to 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. Disposals so far have returned ₦12.07 billion to the Federal Government,” he added.
He said the recoveries had broader implications for government revenue, the integrity of the financial system and deterrence 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 added.
The latest figures form part of a broader performance report recently presented by the EFCC under Olukoyede, with the Commission reporting the recovery of ₦1.233 trillion, alongside foreign-currency recoveries, and 10,872 convictions between October 2023 and July 2026.