Court Orders Forfeiture Of Ikoyi Home Which Housed $43.4m
Posted on November 9, 2017
YAHAYA IBRAHIM
The Osborne property in Ikoyi where the Economic and Financial Crimes Commission (EFCC) recovered the sum of $43,449,947,€27,800 and N23,218,000 are to be temporary forfeited to the Federal Government, a Federal High Court in Lagos ruled on Thursday.
Justice Saliu Saidu gave the order following an experte application filed by the anti-graft agency for the forfeiture of the house.
The EFCC had in April discovered the said sums in iron cabinets and “Ghana-must-go” bags inside a flat at 7B Osborne Towers, Ikoyi Lagos.
The anti-graft agency alleged that the wife of the sacked Director General (DG) of the Nigeria Intelligence Agency, Mrs. Folashade Oke, owned the flat.
According to the Commission, Mrs. Oke allegedly made a cash payment of 1.6 million dollars for the purchase of the flat between August 25 and September 3, 2015.
The EFCC had also alleged that Mrs. Oke purchased the property in the name of a company, Chobe Ventures Ltd, to which she and her son, were directors.
According to EFCC, Mrs. Oke made the cash payment in tranches of $700,000 , $650,000 and $353,700 to a Bureau De Change Company, Sulah Petroleum and Gas Ltd.
The company was said to have later converted the sums into N360 million and subsequently paid it to Fine and Country Ltd for the purchase of the property.
Justice Saliu had adjourned the case till November 30 for any interested party to appear before him and show cause why the interim order should not be made final.
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