Monday, August 2, 2021
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Court Orders Forfeiture Of Ikoyi Flat Where EFCC Recovered $43.4Million

The Federal High Court sitting in Lagos on Thursday 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 stashed away in iron cabinets and Ghana-must-go bags in April.



The monies were recovered by the Economic and Financial Crimes Commission (EFCC) sometimes ago.


Justice Saliu Saidu ordered the forfeiture of the flat to the Federal Government on Thursday following an ex parte application by the country’s anti-graft agency.


Upon making the interim forfeiture order, the judge gave any interested party in the property 14 days to appear before him to show the cause why it should not be permanently forfeited to the Federal Government.


The judge ordered the EFCC to publish the forfeiture order in a national newspaper, to serve as a notice to any interested party.


Justice Saidu adjourned till November 30, 2017, for further hearing.


Joined as the only defendant in the ex parte application by the EFCC was Chobe Ventures Limited, said to be linked with Folashade Oke, the wife of dismissed Director-General of the National Intelligence Agency, Ayodele Oke.


The EFCC had earlier named Oke as owner of the property.


The EFCC said it found out that Folashade made cash payment of $1, 658,000 for the purchase of the flat between August 25 and September 3, 2015.



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