Recovered $43.4m: Court Orders Forfeiture of Osborne Towers Flat

Flat 7B Osborne Towers, Ikoyi, Lagos, where the sums of $43,449,947, £27,800 and N23,218,000 were discovered stashed in iron cabinets and “Ghana-must-go” bags in April, will be temporarily forfeited to the Federal Government of Nigeria

Justice Saliu Saidu of the Federal High Court Lagos gave the forfeiture order on Thursday after an ex parte application by the Economic and Financial Crimes Commission.

The anti-graft agency had named the wife of disgraced Director General of the Nigeria Intelligence Agency, Mrs. Folashade Oke, as the owner of the now notorious flat.

According to the EFCC, Mrs. Oke made a cash payment of $1.658m for the purchase of the flat between August 25 and September 3, 2015.

It was alleged tht she bought the property in the name of a company, Chobe Ventures Limited, a company in which she and her son, Master Ayodele Oke Jnr. were directors.

The EFCC said Mrs. Oke made the cash payment in tranches of $700,000, $650,000 and $353,700 to a Bureau de Change company, Sulah Petroleum and Gas Limited, which converted the sums into N360,000,000 and then paid it to Fine and Country Limited, the sellers of the flat.

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Categories: News

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