N13b Recovery: Why The Money Will Be Finally Forfeited To FG

N13b Recovery: Why The Money Will Be Finally Forfeited To FG

Ahead of May 5 deadline for parties to file application, showing ownership of the humongous N13 billion cash recovered from an apartment in Osborne Towers in Ikoyi Lagos, no party is yet to approach a Federal High Court in Lagos over the matter.

This is even as the three-man committee set up by President Muhammadu Buhari to investigate the discovery of huge cash by the Economic and Financial Crimes Commission (EFCC) on Thursday quizzed the acting chair man of anti-graft agency, Mr. Ibrahim Magu. The committee, headed by Vice President Yemi Osinbajo, also interrogated the Inspector-General of Police, Ibrahim Idris and the Director-General of the Department of State Security (DSS), Malam Lawal Daura, over the issue.

Source disclosed that neither the National Intelligence Agency (NIA) nor the Rivers State Government had filed counter affidavit to back up their claims for the staggering cash.

The source added that the delay by the interested parties to file the necessary applications might be due to gathering of necessary papers to back up their claim as he stated that the issue is a serious matter. He said:

“The issue is not about filing application but backing it up with relevant papers. Nobody can come forward to claim the cash in view of the controversy trailing the seizure unless the party has the relevant documents and proof of ownership. “You will agree with me that it is not a tea party affair as everybody is watching what will happen on May 5.”

When asked what would happen if there is no application against the order on May 5, the source said:

“If there is no application against the interim forfeiture order on or before May 5, the judge will order final forfeiture of the money to the Federal Government.”

The operatives of the Economic and Financial Crimes Commission (EFCC) had stormed the Osborne Towers in Ikoyi, Lagos and recovered $43.4 million, 27,000 pounds and N23 million, following a tip off from a whistle blower. But the suspended Director General of the NIA, Ambassador Ayo Oke, had reportedly claimed that the recovered cash belonged to the agency, saying that the private home is one of the “Safe Houses” where money is kept for covert operations. Rivers State Governor, Nyesom Wike, is also laying claim to the money, insisting that the money was allegedly diverted by his immediate predecessor, Rotimi Amaechi.

topics from
There is no comment