Court orders forfeiture of Ikoyi apartment where EFCC found N13bn

Posted by Adesola Soyele | 9 November 2017 | 1,691 times

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•Osborne Towers, Ikoyi, Lagos

A Federal High Court sitting in Lagos has ordered the interim forfeiture to the Federal Government, the property known as Flat 7b No 16, Osborne Road Ikoyi, Lagos.

It is the property linked to the dismissed Director General of the National Intelligence Agency, Ambassador Ayo Oke, where the EFCC recovered the sums of $43,449,947.00, €27,800 and N23,218,000.00 in April.

Justice Saliu Saidu gave the forfeiture order on Thursday following an ex parte application brought before the court by counsel to the EFCC, Mr Rotimi Oyedepo.

In the application, the anti-graft agency told Justice Saidu that the funds used to acquire the property belongs to the Federal Government but was fraudulently converted to the use of one Chobe Ventures which was used to acquire the property.

In an affidavit supporting the application, an investigating officer of the EFCC, one Musa Yusuf, also explained how the commission obtained intelligence reports which showed that huge sums of money in local and foreign currencies were being surreptitiously kept in the Osborne property.

After analysing the reports, the EFCC said it obtained a search warrant and raided the house where it discovered all the monies which have now been forfeited to the Federal Government, in line with the judgment of Justice Muslim Hassan also of the Federal High Court.

The commission further detailed how the property was acquired for the sum of N360m from Chobe Ventures whose directors are Ambassador Oke and his wife, Folashade.

After listening to the EFCC and reviewing the evidence submitted in proof of the application, Justice Saidu granted the interim forfeiture order.

He also directed the anti-graft agency to advertise the order within 14 days in any national dailies to serve as notice to Chobe Ventures, its directors, and any interested persons to come before the court to show cause why the property should not be permanently forfeited to the FG.

The judge then adjourned till the November 30 for such interested party to appear in court.


Source: News Express

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