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IkoyiGate: Court Orders Temporary Forfeiture of Apartment


A Federal High Court sitting at Ikoyi, Lagos State, Thursday, ordered the temporary forfeiture of the apartment, Flat 7B Osborne Towers, Ikoyi, Lagos, where the sums of $43,449,947, £27,800 and N23,218,000 were found in iron cabinets and “Ghana-must-go” bags in April this year to the Federal Government of Nigeria.
The Judge, Justice Saliu Saidu, arrived at the decision following an ex parte application initiated by the Economic and Financial Crimes Commission (EFCC).
Prior to this time, the anti-graft agency had mentioned the wife of the sacked Director General (DG) of the Nigeria Intelligence Agency, Mrs. Folashade Oke, as the owner of the flat.
The Commission had insisted that it found out that Mrs. Oke made a cash payment of $1.658m for the purchase of the flat between August 25 and September 3, 2015 in tranches.
The EFCC had further argued that Mrs. Oke allegedly purchased the property in the name of a company, Chobe Ventures Limited, to which she and her son, Master Ayodele Oke Junior, were directors, and of which payment was said to have been made to one Fine and Country Limited.
The anti-graft agency explained that Mrs. Oke made the cash payment in tranches of $700,000, $650,000 and $353,700 to a Bureau de Change company, Sulah Petroleum and Gas Limited, which later converted the sums into N360,000,000 and subsequently paid it to Fine and Country Limited for the purchase of the property.

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