EFCC Exposes ‘Anticipatory Looting’ Tactic: How Politicians Declare Assets They Plan to Buy Before Taking Office
Story written By okafor joseph August 13,2025
The Economic and Financial Crimes Commission (EFCC) has uncovered a disturbing corruption tactic among some politicians, involving the declaration of properties they do not yet own as part of their assets before assuming public office — a scheme EFCC Chairman Ola Olukoyede has labelled “anticipatory looting.”
Olukoyede revealed the findings on Tuesday in Abuja at the launch of a virtual code of conduct tool for public officers, organised by the Code of Conduct Bureau (CCB) in partnership with the Technical Unit on Governance and Anti-Corruption Reforms (TUGAR).
According to him, EFCC investigations have shown that certain politically exposed persons falsify their asset declaration forms by including properties they plan to acquire with illicit funds once in office.
“There was an investigation we carried out that proved the ingenuity — and criminally smart ways — some of our politically exposed persons operate,” Olukoyede said.
He cited one case where a public officer declared ownership of a multi-billion-naira property before it was even built. The official listed a ₦3 billion property at “No. 39” in the CCB form, but further checks revealed the actual mansion was at “No. 44” — a deliberate misrepresentation to mask the scheme.
“Eventually, we discovered what we call anticipatory declaration of assets. They declare what they intend to acquire once in office, even before being sworn in. It is terrible,” he lamented.
Olukoyede disclosed that the politician had already registered the property in the land registry and designed the mansion before taking the oath of office — clear evidence of premeditated looting.
“Before he was sworn in, he had already planned the money to steal and what to do with it,” Olukoyede stated.
The EFCC chairman warned that such practices undermine public service integrity and called for stricter enforcement of asset declaration laws to prevent corrupt enrichment by public officials.
