Court orders over N13 billion Ikoyi money uncovered by EFCC forfeited to Nigerian govt

The Federal High Court in Lagos has granted the request of the Economic and Financial Crimes Commission, EFCC, that the $43,449,947, £27,800 and N23,218,000 recovered from an Ikoyi, Lagos, apartment be forfeited to the federal government.

READ: EFCC uncovers $43.4 million, £27,800 and N23.2 million in Ikoyi apartment

The total value of the money at the Central Bank official exchange rate is over N13 billion.

The EFCC recovered the huge cash, presumed to have been looted, on Wednesday from an Osborne Street, Ikoyi apartment in Lagos State.

The anti-graft agency said it acted following a tip from a whistle-blower.

In his ruling, Justice Muslim Hassan ordered temporary forfeiture of the money to the government.

He adjourned further proceedings to May 5 for anyone interested or wishing to claim the money and make case why it should not be permanently forfeited to the government.

Meanwhile,  a former National Chairman of the Peoples Democratic Party (PDP), Ahmadu Adamu Mu’azu, has disowned the Lagos apartment, where operatives of the Economic and Financial Crime Commission (EFCC) found more than $50million behind false walls on Wednesday.

Mu’azu made the claim while speaking to Sahara Reporters.

Akin Oyegoke who identified himself as the “Media and ICT Personal Assistant” to Mu’azu, called from London to debunk the speculation.

“Mr Muazu does not own any house in Ikoyi except his house at Walter Carrington street, Victoria Island Lagos,” Oyegoke said.

Oyegoke, however, failed to explain why the construction firm, Etco Nigeria Limited, that built the house listed his name as a client.