Ikoyigate: Court reserves judgment till Jan. 19

FEDERAL High Court
FEDERAL High Court

A FEDERAL High Court sitting in Lagos over the final forfeiture of an Ikoyi residence on N0 7b Osborne Road where some owner-less bags of money in local and foreign currencies were recently found by Economic and Financial Crimes Commission (EFCC) has reserved its judgment on the matter until January 19.

The court presided over by Justice Saliu Saidu gave the ruling yesterday following a motion from EFCC.

The property was said to belong to a wife of the suspended Director General of the National Intelligence Agency, Ayo Oke Folashade, where about $444,000 dollars, 28,000 Euros and N23 billion was allegedly uncovered in a raid by EFCC.

READ MORE:  Chief judge Tsoho, family test negative to COVID-19

The court had earlier ordered for a permanent forfeiture of the funds in June 2017.

EFCC submitted that Folashade Oke acquired the property in dubious and controversial circumstances, adding that same be permanently forfeited to Federal Government.

Justice Saidu then reserved judgment in the suit until Jan. 19


Please enter your comment!
Please enter your name here