The Federal High Court in Lagos has granted the request of the Economic and Financial Crimes Commission, EFCC, that the $43,449,947, £27,800 and N23,218,000 recovered from an Ikoyi, Lagos, apartment be forfeited to the federal government.
The total value of the money at the Central Bank official exchange rate is over N13 billion.
The EFCC recovered the huge cash, presumed to have been looted, on Wednesday from an Osborne Street, Ikoyi apartment in Lagos State.
The anti-graft agency said it acted following a tip from a whistle-blower.
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In his ruling, Justice Muslim Hassan ordered temporary forfeiture of the money to the government.
He adjourned further proceedings to May 5 for anyone interested or wishing to claim the money and make case why it should not be permanently forfeited to the government.
The whistle blowing policy of the Federal Government is paying off positively as the Economic and Financial Crimes Commission Wednesday stormed a residential building in the 7th Floor of a four – bedroom apartment at Osborne Towers located at 16, Osborne road Ikoyi, Lagos, where a humongous find of foreign currencies and Naira notes to the tune of $43.4m, £27,800 and N23.2m were uncovered.
The operation followed a whistle blower’s confidential alert received by the Commission’s Lagos office this morning regarding some noticed suspicious movement of bags in and out of a particular apartment in the building. According to the source, the movers of the bags, make believe that they bring in bags of clothes.
Another source who is conversant with the apartment of interest indicated that some woman usually appeared on different occasion with Ghana Must Go bags. ” She comes looking haggard, with dirty clothes but her skin didn’t quite match her outward appearance, perhaps a disguise”, the source said.
On getting to the building, operatives met the entrance door locked. Inquiries from the guards at the gate explained that nobody resides in the apartment, but some persons come in and out once in a while. In compliance with the magisterial order contained in the warrant, the EFCC used minimum force to gain entrance into the apartment.
Monies were found in two of the four bedroom apartment. Further probe of the wardrobe by operatives in one of the rooms, was found to be warehousing three fire proof cabinents disguisedly hidden behind wooden panels of the wardrobe. Upon assessing the content of the cabinets, neatly arranged US Dollars, Pound Sterling and some Naira notes in sealed wrappers.
Preliminary findings indicate that the funds are suspected to be proceeds of unlawful activity.
The facility is said to be owned by Osborne Towers Resident Association.
Investigations are ongoing, EFCC said
