Seized $44m: Court fixes date to rule on forfeiture of Ikoyi residence

A Federal High Court in Lagos on Wednesday reserved judgment in suit seeking final forfeiture of a residence located at 7b Osborne road, Ikoyi, Lagos, until January 19.

The residence was where over $44m and 28,000 Euros were uncovered by Economic and Financial Crimes Commission (EFCC) in 2017.

It was said to be the property of Ayo Oke Folashade, wife of sacked Director General of the National Intelligence Agency.

The court had consequently in June 2017, ordered permanent forfeiture of the funds from the said property.

However, on Wednesday, Justice Saliu Saidu, reserved judgment on final forfeiture of the residence after counsel to EFCC, Rotimi Oyedepo, moved a motion seeking final forfeiture of same.

The EFCC submitted that Folashade Oke acquired the property in dubious and controversial circumstances, adding that same be permanently forfeited to Federal Government.

He moved in terms of his application and urged the court to grant the prayers sought.

Meanwhile, President Muhammadu Buhari has approved the appointment of a substantive DG for the NIA.

#Court #Seized44m