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Court orders forfeiture of Ikoyi stash uncovered by EFCC to FG

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Court orders forfeiture of Ikoyi stash uncovered by EFCC to FG

The $43,449,947, £27,800 and N23,218,000 uncovered by the Economic and Financial Crimes Commission from a home in Ikoyi, Lagos on Wednesday, has been placed on temporary forfeiture to the Federal government.

This was based on a Thursday Federal High Court ruling in Lagos, which ordered that the money be temporarily forfeited to the Federal Government.

He adjourned further ruling on the matter till May 5, 2017 to enable any person interested in the funds to appear before the court to prove why the money should not be forever forfeited to the Federal Government.

Meanwhile, former managing director of one of the subsidiaries of the Nigerian National Petroleum Corporation, Esther Nnamdi-Ogbue, has said that the recovered money does not belong to her.

Reports in some social media platforms had linked the money discovered by the EFCC to Nnamdi-Ogbue, who was NNPC managing director, retail section.

She however said in a statement on Thursday through her lawyer, Mr. Emeka Etiaba (SAN) that she knew nothing about the money.

“The attention of our Client, Mrs. Esther Nnamdi-Ogbue has been drawn to the news making round in the news media to the effect that the large sums of money to wit: $43.4m and £27,000 uncovered by the EFCC from an apartment in Osborne Towers, Osborne Road, Ikoyi Lagos, Lagos State belong to her.

Read also: Ex-PDP chair, Mu’azu, linked to property where EFCC found N18bn cash

“By this press release, we inform the public (especially the news media) that the said sums of money and/or the apartment where the sums of money were found do not belong to our client. Our client is as shocked as many other Nigerians at the uncovering and recovery of the said sums of money and wishes to salute the courage and efforts of the EFCC in the war against corruption.

“She also wishes to commend the whistle-blower policy introduced by the Federal Government in the fight against corruption which policy has resulted in large scale uncovering and recovery of monies and assets.

“It is our client’s belief that the source and ownership of the said uncovered sums of money is known or eventually will be known by the EFCC in due course. There is, therefore, no need for conjecture or speculation.

“May we finally implore the news media to be more circumspect in their publications,” the statement read.

 

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