Court orders final forfeiture of Ikoyi cash

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A federal high court sitting in Lagos has ordered the final forfeiture of the discovered sums of money in an Ikoyi apartment to the federal government.

Justice Muslim Hassan ordered the final forfeiture of the monies – $43m, £27, 000 and NN23m after they were temporary forfeited to the government.

The court had earlier ordered an interim forfeiture of the monies following an ex-parte application filed by the EFCC.

Hassan held that the monies were suspected proceeds of criminal activity consistent with the claims of the anti-graft agency.

He also pointed to the fact that no one showed up in court to claim the controversial amounts of money, gave credence to the claim of the EFCC.

In April, the Economic and Financial Crimes Commission (EFCC)discovered the sums, following a tip-off from a whistle-blower.

Since the discovery by the security agency, there have been controversies following the ownership of the monies as all those linked to it or the apartment had denied any existing link.

The discovery had also led to the suspension of Ayodele Oke, director-general (DG) of National Intelligence Agency (NIA).

Oke had claimed that the monies belonged to the agency.

The EFCC has already taken control of the Ikoyi apartment allegedly purchased by Folashade Oke, wife of the suspended NIA DG.

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