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Saraki to forfeits properties worth Billions of Naira to FG

Saraki to forfeits properties worth Billions of Naira to FG 


Ex-Senate President Bukola Saraki may not be having best of good time in the face of possible complete loss of properties worth billon of naira, both in Lagos to the hand of the Federal government. In a ruling by the Federal High Court sitting in Ikoyi, Lagos, today, Monday October 21, 2019 the court ordered the temporary forfeiture of two properties located in Ikoyi area of Lagos State and belonging to the immediate past Senate President, Dr Bukola Saraki, to the Federal Government.

The Ilorin Zonal Office of the Economic and Financial Crimes Commission (EFCC) had in an ex parte application filed by the Commission’s Lawyer Nnaemeka Omewa approached the court, seeking an order of interim forfeiture of the properties located at No. 17A McDonald Road, Ikoyi, Eti Osa Local Government Area of Lagos, alleging that they were acquired through proceeds of unlawful activities.

Part of the reliefs sought by the EFCC included “An order of this honourable Court forfeiting to the Federal Government of Nigeria landed property with appurtenances situate, lying and known as No. 17A McDonald Road, Ikoyi, Eti Osa Local Government Area of Lagos State found and recovered from the respondent which property is reasonably suspected to have been acquired with proceeds of unlawful activity”.

EFCC in supporting affidavits, alleged that the former Senate President acquired the two properties with proceeds of unlawful activities; that while serving as governor of Kwara State, he withdrew over N12 billion cash from the account of the Kwara Government and paid same into his accounts domiciled in Access and Zenith banks through one of his personal assistants, Abdul Adama, at different intervals.

Delivering ruling on the application, Justice Mohammed Liman ordered the interim forfeiture of the two properties. He also instructed that EFCC should publish the order in a national newspaper within 14 days, for anyone with interest in the properties to show cause why they should not be finally forfeited to the Federal Government

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