Ikoyigate: Court orders forfeiture of $43m recovered billions to FG

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The Federal High Court sitting in Lagos has ordered the temporary forfeiture to the Federal Government, the sums of $43,449,947, £27,800 and N23, 218,000 discovered at Flat 7B Osborne Towers, Ikoyi, Lagos in April.

The money discovered which were stashed in iron cabinets and “Ghana-must-go” had become a national controversy between the office of the Nigerian Intelligence Agency (NIA) and the Economic and Financial Crimes Commission (EFCC).

In a ruling delivered by Justice Saliu Saidu on Thursday, the court also ordered the forfeiture of the building to the Federal
Government on Thursday following an ex parte application by the Economic and Financial Crimes Commission.

The EFCC had earlier named the wife of the sacked Director General of the NIA, Mrs. Folashade Oke, as the owner of the flat.

The anti-graft agency said it found out that Mrs. Oke made cash
payment of $1.658m for the purchase of the flat between August 25 and September 3, 2015. She was said to have purchased the property in the name of a company, Chobe Ventures Limited, to which she and her son, Master Ayodele Oke Junior, were directors.

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