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Court orders forfeiture of Ikoyi apartment where EFCC recovered $42 million, £27,000 and N23 million

Published

9 years ago

November 9, 2017

The Federal High Court in Lagos has ordered the temporary forfeiture of Flat 7B Osborne Towers, Ikoyi, Lagos where the sums of $43,449,947, £27,800 and N23,218,000 were discovered to be kept in iron cabinets and “Ghana-must-go” bags in April this year.

Justice Saliu Saidu, who gave the order on Thursday said the building where the money was discovered should also be forfeited to the Federal Government following an ex parte application by the Economic and Financial Crimes Commission, (EFCC).

The EFCC explained that during investigation, it was discovered that Mrs. Oke made a cash payment of $1.658m for the purchase of the flat between August 25 and September 3, 2015.

ALSO SEE: $43m cash haul: EFCC to question sacked NIA Boss, wife

It would be recalled that the EFCC had earlier named the wife of the sacked Director General of the Nigeria Intelligence Agency, Mrs. Folashade Oke, as the owner of the flat where the money was stashed in iron drawers.

It was learnt that she had purchased the property in the name of a company, Chobe Ventures Limited, to which she and her son, Master Ayodele Oke Junior, were directors.

Clandestinely, they made the payment of the flat to one Fine and Country Limited.

It was further gathered that the payment was done by installment of $700,000, $650,000 and $353,700 to a Bureau de Change company, Sulah Petroleum and Gas Limited, which later converted the sums into N360,000,000 and subsequently paid it to Fine and Country Limited for the purchase of the property.

It would be recalled that the money was uncovered in April this year and three different institutions including Rivers state government claiming to be the owner of the money.