Court Orders Temporary Forfeiture Of $43m, £27,800, N23m Recovered by EFCC To FG
Justice Muslim Hassan of the Federal High Court in Lagos yesterday ordered the temporary forfeiture of the sums of $43,449,947, £27,800 and N23,218,000 recovered on Wednesday by the Economic and Financial Crimes Commission from an apartment in the Ikoyi area of Lagos to the federal government.
Justice Hassan made the order after listening to an ex-parte application filed by the EFCC through its counsel, Rotimi Oyedepo, praying the court that the funds be temporarily forfeited to the Federal Government pending investigation.
Oyedepo had told the court that the commission received intelligence report from an undisclosed source that various sums of money were kept in an apartment located at 16, Osborne Road, Ikoyi.
The lawyer also told the court that upon the receipt of the information, the anti-graft agency approach the court to obtain a search warrant to enable its conduct a search on the apartment.
Oyedepo further submitted that after the search the EFCC recovered the sums of $43,449,947, £27,800 and N23,218,000 found in a four-bedroom apartment on the 7th floor of the residential building at Osborne Towers.
Oyedepo also claimed that the EFCC reasonably believed that the recovered monies was part of proceeds of unlawful activity.
He therefore urged the court to order the temporary forfeiture of the sum and also an order authorising the commission to publish the order in a national newspaper paper to allow interested parties to show cause why the money should not be permanently forfeited to the Federal Government of Nigeria.
Justice Hassan granted the two prayers and then adjourned till May 5, 2017 for further hearing.
Oyedepo had told the court that the commission received intelligence report from an undisclosed source that various sums of money were kept in an apartment located at 16, Osborne Road, Ikoyi.
The lawyer also told the court that upon the receipt of the information, the anti-graft agency approach the court to obtain a search warrant to enable its conduct a search on the apartment.
Oyedepo further submitted that after the search the EFCC recovered the sums of $43,449,947, £27,800 and N23,218,000 found in a four-bedroom apartment on the 7th floor of the residential building at Osborne Towers.
Oyedepo also claimed that the EFCC reasonably believed that the recovered monies was part of proceeds of unlawful activity.
He therefore urged the court to order the temporary forfeiture of the sum and also an order authorising the commission to publish the order in a national newspaper paper to allow interested parties to show cause why the money should not be permanently forfeited to the Federal Government of Nigeria.
Justice Hassan granted the two prayers and then adjourned till May 5, 2017 for further hearing.
