Ikoyi N43.4m: FG May Seize Osborne Towers Apartment

Following the shocking discovery of a whopping sum of N15 billion hidden in an Ikoyi apartment, it has been revealed that the whole building might be seized by the
Federal Government.

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, The Nation has reported.

This comes after the EFCC on Friday asked the Federal High Court in Lagos through an
application to order 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.”

It was also gathered that lobbyists have been mounting pressure on Presidency officials for soft landing for Lawal and Oke.

It was also learnt that the ongoing probe of the two officials has divided members of the
kitchen cabinet of the President.
A source in the presidency said: “Even there is a split among the kitchen cabinet members on Lawal and Oke. The sympathy
is more for Oke in view of his high rating in the intelligence community. He is considered
a first class diplomat.

“As a matter of fact, Oke was the first to initiate the recovery of Abacha loot during
the tenure of ex-President Olusegun Obasanjo as a desk officer at the Nigerian
High Commission in London. All attempts to make him compromise on Abacha loot
failed.

“Of all the security chiefs, he was the only one who wrote an accurate report to ex- President Goodluck Jonathan that he would
lose the 2015 presidential election to President Muhammadu Buhari at the risk of his job.

“This is why he was baffled when the $ 43.4million was linked to the campaign funds for Jonathan.

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