ICPC Set To Seize Properties Worth Billions From Shehu Yaradu'a and Others

Published 3 months ago by: Olusanya Akinrinola
at 07:10 PM, 18/03/2019 (3 months ago)

(2185 | Gistmaniac) (m)


The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has moved to seize properties belonging to the Shehu Musa Yar’Adua Foundation and others for allegedly violating laws regulating ownership of lands in the country.

In a statement signed by the commission spokesperson, Rasheedat Okoduwa, the ICPC said it would effect the seizure of the affected properties after which a permanent forfeiture order will be obtained from court.

The Shehu Yar’Adua was the elder brother to former President Umaru Musa Yar’Adua who died in May 2010.
According to the ICPC, the properties located in various parts of the Federal Capital Territory have a cumulative value of N4.8 billion.

The commission added that the properties belong to 30 companies operating in Nigeria.

List
“The property to be seized includes 22.9 hectares of undeveloped land, one plaza, and a block of six two-bedroom flats located in Wuse, Zone One, Abuja belonging to Shehu Musa Yar’adua Foundation, Vibrant Issuance Brokers, Millard Fuller Foundation, Maibuhu Farm and Construction Limited, Gabcon Enterprises Limited and a host of others. In the course of the investigation, the alleged owners of the properties disclaimed ownership.

The move to seize the properties followed a petition to ICPC by the Federal Inland Revenue Service (FIRS), accusing the companies of defaulting in tax payment to the tune of N288.2 million.

“Section 37 of the Corrupt Practices and Other Related Offences Act 2000 empowers ICPC to seize assets alleged to be subject of an offence under the law while Section 48 authorises it to apply to a High Court for an order of forfeiture within 12 months of the date of seizure,” the statement said.

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