The National Accountability Bureau (NAB) has formally handed over possession of four confiscated properties, valued at Rs348 million, to the Directorate General of Estate, Ministry of Housing and Works. The transfer follows the final conviction of former Member of the National Assembly Abdul Aziz Memon and his wife in a high-profile corruption case involving assets beyond known sources of income.
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The properties, which include a residential house in DHA Phase V Extension and three plots in KDA Scheme A-1 Extension and Hawke’s Bay Scheme 42, were confiscated following a verdict by an accountability court in Karachi. The court sentenced both convicts to seven years’ rigorous imprisonment and imposed a fine of Rs1 million each, with subsequent appeals before the Sindh High Court and the Supreme Court being dismissed .
A formal ceremony was held at NAB Karachi headquarters on July 6, 2026, where DG NAB Karachi Shakeel Ahmed Durrani officially handed over possession to DG Estate Obaiduddin. Speaking on the occasion, Durrani reaffirmed the bureau’s unwavering commitment to recovering looted assets and returning them to the state and affected individuals .
The development comes as NAB intensifies its efforts to reclaim misappropriated state resources under the leadership of Chairman Lieutenant General (retd) Nazir Ahmed. The bureau’s recovery portfolio has seen substantial growth, with non-monetary assets such as land and properties forming the bulk of recoveries, reflecting a strategic shift toward asset reclamation .
