FUNAAB Recovers ₦27 Million Abuja Property Lease Funds After EFCC Intervention

The Federal University of Agriculture, Abeokuta (FUNAAB), has reaffirmed its unwavering commitment to transparency, accountability, and prudent management of institutional resources following the successful recovery of ₦27 million paid for the lease of a property intended to serve as the University’s Liaison Office and Guest House in Abuja.

The development has also helped to correct erroneous impressions in some quarters suggesting any form of corrupt practice on the part of the University, as records have shown that the institution diligently pursued the matter through legitimate legal and administrative channels for several years.

The transaction dated back to 2011 during the administration of former Vice-Chancellor, Prof. Oluwafemi Olaiya Balogun, when the University sought to acquire a property in Abuja to function as a Liaison Office, while also serving as a Guest House to generate revenue for the institution.

It was gathered that although the property was initially considered for outright purchase at a cost of approximately ₦300 million, the University, due to financial constraints at the time, opted instead for a rental arrangement approved by the Governing Council. Consequently, Mr. Segun Okeowo of Royal Caretaker handling the property secured a one-year lease agreement for ₦27 million on behalf of the University.

However, upon payment and subsequent attempts by the University to take possession of the property, it was discovered that the same property had allegedly been handed over to another party, thereby denying the University access despite the payment already made. Determined to protect its resources and institutional integrity, FUNAAB instituted legal action on the matter. The University eventually secured victory at the High Court, affirming its rightful claim in the dispute. Nonetheless, the property owner proceeded to the Court of Appeal, resulting in prolonged litigation and delays that spanned several years.

The matter later came under further scrutiny during one of the Federal Government’s Visitation Panels and investigative exercises, where the case was identified as a recoverable transaction requiring additional intervention. This subsequently attracted the attention of the Economic and Financial Crimes Commission (EFCC), which commenced a detailed investigation into the matter.

Following nearly two years of sustained efforts and investigation by the anti-graft agency, the EFCC successfully recovered the ₦27 million from Dr. Ahmed Mohammed Salik and others involved and remitted the funds back to the University’s account in April 2026.

The University Management has commended the EFCC for its professionalism, persistence, and commitment to ensuring the recovery of the funds after over a decade of legal and administrative processes. Management also noted that the development further demonstrates the effectiveness of institutional collaboration in safeguarding public resources and promoting accountability.

FUNAAB has reiterated that the recovered funds stand as evidence of the University’s steadfastness, due process, and determination to protect public assets, while assuring stakeholders of its continued dedication to transparency, responsible governance, and institutional excellence.