EFCC Considers Pushing For Seizure Of Ikoyi Apartment Where Mysterious $43million Cash Was Discovered As It Applies For Permanent Forfeiture Of Fund

The Economic and Financial Crimes Commission (EFCC) is considering pushing for the seizure of apartment 7B at Osborne Towers, Ikoyi, Lagos, from where it made the famous haul of $43million cash.

That will be in addition to its Friday application to the Federal High Court in Lagos for the final forfeiture of the money to the Federal Government.

The commission said that no one has come forward to claim the $43,449,947 (about N13 billion), N23, 218,000 and £27,800 (about N10.6milion) cash found in the apartment.

Already, lobbyists are finding their way to the Presidential Villa to plead for soft landing for the suspended Secretary to the Government of the Federation, Babachir Lawal and the Director-General of the National Intelligence Agency (NIA), Amb. Ayo Oke.

Some heads of security agencies are said to be canvassing a second opinion on the probe of Oke.

Ahead of the submission of the report of the Presidential Investigative Committee headed by Vice President Yemi Osinbajo tomorrow, there was anxiety last night among government officials who were implicated in the $43.4million haul.

Lawal is being probed over alleged N200million contract awarded to a company, Global Vision Limited, linked with him by the Presidential Initiative for the North East (PINE) for the clearing of ‘invasive plant species’ (weeds) in Yobe State.

Oke, on the other hand, is being investigated in connection with the $43.4million cash haul.

Investigation however revealed that apart from seeking the forfeiture of the $43.4million, EFCC might take over apartment 7B.

A reliable source in EFCC said: “The anti-graft commission will soon initiate moves to seize the apartment 7B in Osborne Towers in line with its mandate.

“The circumstances surrounding the purchase of the apartment have been faulted by this commission at a Federal High Court in Lagos.

“Therefore, we are set to invoke sections 26 and 28 of the EFCC (Establishment) Act 2004.”

“So, we are not only interested in the cash, we want to take over the apartment. But we are awaiting the decision of the committee bring led by the Vice President.”

Section 26 reads in part: (1) “Any property subject to forfeiture under this Act may be seized by the Commission in the following circumstances – (a) the seizure incidental to an arrest or search; or (b) in the case of property liable to forfeiture upon process issued by the Court following an application made by the Commission in accordance with the prescribed rules.(2) Whenever property is seized under any of the provisions of this Act, the Commission may – (a) place the property under seal; or(b) remove the property to a place designed by the Commission.

“(3) Properties taken or detained under this section shall be deemed to be in the custody of the Commission, subject only to an order of a Court.

Section 28 reads: “Where a person is arrested for an offence under this Act, the commission shall immediately trace and attach all the assets and properties of the person acquired as a result of such economic or financial crime and shall thereafter cause to be obtained an interim attachment order from the Court.”

Sections 28 and 34 of the EFCC (Establishment Act) 2004 and Section 13(1) of the Federal High Court Act, 2004.”

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