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Wednesday, 7 June 2017

Court Orders Final Forfeiture of $43.4m, £27,800, N23.2m To FG


Justice Muslim Hassan of the Federal High Court sitting in Ikoyi,  Lagos has ordered the final forfeiture of the sums of $43,449,947, £27,800 and N23,218,000 recovered in an apartment at Osborne Road, Ikoyi, Lagos.



Operatives of the Commission had, on Wednesday, April 12, 2017, stormed a residential building on the seventh floor of a four-bedroom apartment on Osborne Towers located on 16, Osborne Road,  Ikoyi,  Lagos, where the large sums of money was uncovered.

The operation followed a whistle-blower confidential alert received by the Commission's office in Lagos in the early hours of April 12, 2017.

Consequently,  the Commission had, on April 13, 2017, obtained an interim court order forfeiting the funds to the Federal Government.

In his ruling, Justice Muslim had given 14 days for anyone interested in the funds to appear before him to show cause why the money should not be permanently forfeited to the Federal Government.
...
At resumed proceedings, counsel to the prosecution, Rotimi Oyedepo said that that despite the newspaper advertisement of the initial order of April 13, 2017 temporarily forfeiting the money to the Federal Government, no one showed up in court to show cause why the money should not be permanently forfeited to the Federal Government.
...
Oyedepo urged the court to proceed with the final forfeiture proceedings.

In his ruling today, Justice Hassan gave an order permanently forfeiting the funds to the Federal Government. ...
The judge made the same order in respect of the £27,800 and N23,218,000.



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