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Court Orders Final Forfeiture Of Ikoyi Loot To Fed Govt [Update]

The federal High Court has ordered final forfeiture of the $43.4m, N23.2m and £27,800 found in an apartment in Osborne Road, Ikoyi, Lagos to the federal government.

The economic and Financial Crimes Commission [EFCC] had discovered the lump hidden in safes at an apartment in Ikoyi Months ago.

EFCC had explained that ‎ its operatives discovered the cash pile during a sting operation.

The cash pile found in the apartment included dollars, pounds and naira, haven acted on information provided by a whistleblower.

Ironically, no one owns the money as EFCC told the Federal High Court in Lagos that no one has come forward to claim the about N15 billion cash.

The Nigeria Intelligence Agency [NIA], though, tried unsuccessfully to claim the money.

The anti-graft agency, therefore, prayed Justice Muslim Hassan to make an order of final forfeiture of the money to the Federal Government.

The judge, while ordering a temporary forfeiture of the money on April 13, directed EFCC to advertise the order in a newspaper so that anybody who owns the money can claim it within 14 days.

Meanwhile, the three-man Presidential Investigative Committee set up by President Muhammadu Buhari is yet to present its reports to the President.

The panel was constituted under the chairmanship of Vice President Yemi Osinbajo, SAN.

Its duty is to inquire:

Elombah.com gathered that President Jonathan indeed approved some projects in 2014 and directed the release of the 289 million Dollars to the NIA in February 2015. 

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