Court orders forfeiture of $43m uncovered by EFCC to FG, asks owner to step forward


Justice Muslim Hassan of the Federal High Court in Lagos, on Thursday ordered the temporary forfeiture of the sums of $43,449,947, £27,800 and N23,218,000 uncovered from a house in Ikoyi, Lagos State on Wednesday by the Economic and Financial Crimes Commission. He said the money should be forfeited to the Federal Government.

In his ruling, Justice Hassan held that anyone interested in the huge sum should appear before him to show cause why the money should not be permanently forfeited to the Federal Government.

Consequently, the judge adjourned the matter till May 5, 2017.

Recall that the anti-graft agency had on Wednesday uncovered the huge sum in an apartment in Ikoyi, Lagos State.

Several high profile personalities, including former National Chairman of the Peoples Democratic Party, PDP, Ahmadu Adamu Mu’azu had been linked to the fund. But Adamu has, however, denied the report.

A former Director of Nigeria National Petroleum Corporation, NNPC, Esther Nnamdi-Ogbue, who was also linked to the fund has equally denied any connection to the huge sums.


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