EFCC recovers N2tn property from corrupt politicians

Published 9 years ago by: Daniel Bosai
[1] 2 3 4
at 14-11-2010 08:56PM (9 years ago)

(18052 | Hero) Online (m)


Landed property and business concerns worth over N2tr have been seized from 46 politicians and influential Nigerians in the last seven years by the Economic and Financial Crimes Commission following corruption charges preferred against them, SUNDAY PUNCH investigations have revealed.

The forfeited properties totalling 203 and scattered across the country and overseas were recovered on the orders of the courts.

This revelation is coming as the Economic and Financial Crimes Commission said it would in the next few weeks seal and seize more properties. The planned seizure is a result of court judgments yet to be implemented.

The EFCC Head, Media and Publicity, Mr. Femi Babafemi, confirmed this to our correspondent on Friday, saying ”there is another 16 on our list that we will be reclaiming in another two weeks.”

He added, ”The EFCC has the mandate to identify, verify and manage all forfeited assets. In the course of the identification and verification exercise, we discovered quite a lot of official orders that were not enforced during the tenure of the former chairman.”

The Commission was formerly under the superintendence of Malam Nuhu Ribadu, who is now a presidential aspirant of the Action Congress of Nigeria.

Our correspondent gathered that an asset forfeiture unit was set up in 2008 to trace all the houses that the courts had ordered to be claimed by the government in different parts of the country.

Babafemi said, ”That unit became imperative when we realised that their former owners were not ready to let go of the properties willingly. In all, we have 203 houses worth over N2tr from 46 court orders.”

Already, tenants in the 203 houses have received letters from the EFCC that the buildings now belong to the Federal Government.

The letter, SUNDAY PUNCH gathered directed them to pay their rents to the Federal Government Recovery account that is being managed by the Central Bank of Nigeria.

Also, property managers have been hired to manage the estates.

Babafemi said, ”The managers will administer the assets to generate revenue for the government. These properties no longer belong to the individuals that owned them. They now belong to the government and will be treated as such.”

Former Ekiti State governor, Ayodele Fayose, two weeks ago, joined the list of the 46 persons who had their properties confiscated after the commission seized two of his buildings in Ibadan, Oyo State.

Babafemi, said the commission had earlier confiscated the buildings and had court papers which gave it the leave to seize the properties.

Fayose, the EFCC spokesman said, had broken the commission‘s seal on the buildings and regained entry into the buildings, an action that prompted the anti-graft agency‘s reaction.

Babafemi added, ”The order was not obtained today. It is an existing order. There was a subsisting court order for the temporary forfeiture of those buildings. The properties were seized since 2006 but they broke our seal and got into the building. We just got information on that which prompted our agents to move in.”

Apart from Fayose, the former Managing Director of Oceanic Bank International Plc, Mrs. Cecilia Ibru, also forfeited N191bn assets comprising 49 properties in Nigeria, United States and Dubai, United Arab Emirates, to the FG, after a federal high court sentenced her to 18 months imprisonment last month.

In 2009, the EFCC also seized Cosmo FM radio station, Rainbownet Nigeria Ltd and other companies believed to be owned by former Enugu State governor, Senator Chimaroke Nnamani.

The properties were seized by the commission vide a Lagos Federal High Court order in May 2007 following the indictment of Nnamani over alleged corruption and embezzlement of state funds to the tune of N5.3billion.

Suspected to be on the list also are properties of former Plateau State governor, Joshua Dariye; controversial businessmen, Fred Ajudua and Emmanuel Nwude; former Bayelsa governor, D.S.P Alamieyeseigha, and the former Inspector-General of Police, Mr. Tafa Balogun.



ezriano at 14-11-2010 09:28PM (9 years ago)
(94 | Newbie) (m)

Na waooo, from one hand to another....na dem dem, me n u no go smell am
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dollar22 at 14-11-2010 09:31PM (9 years ago)
(1099 | Gistmaniac) (m)

i cant read all but where is the money
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sixtyhoneyy at 14-11-2010 10:18PM (9 years ago)
(3522 | Gistmaniac) (f)

hmmmm anyway am speechlesss  Lips Sealed Lips Sealed Lips Sealed
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lopez2424 at 14-11-2010 10:23PM (9 years ago)
(801 | Upcoming) (f)

Not new!
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Ceenod at 14-11-2010 10:25PM (9 years ago)
(491 | Upcoming) (m)

where d recoveries @?

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batos_locos at 14-11-2010 10:41PM (9 years ago)
(126 | Upcoming) (m)

As usual na!!!
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twinster at 14-11-2010 10:59PM (9 years ago)
(132 | Upcoming) (m)

Now dem recover does money,na wetin dem go use am do now...dey shd use it on reliable somtin....
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ksurrina at 14-11-2010 11:02PM (9 years ago)
(1579 | Gistmaniac) (f)

They are properties and since some are overseas when will they be place in Sales. Will the citizens of Nigeria know about these sales and the payment of money be public knowledge? More information is needed were this is concern. Since the money is in assets then this is much ado about nothing. Sell so that the money can be of usage to the country of Nigeria.

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Ceenod at 14-11-2010 11:08PM (9 years ago)
(491 | Upcoming) (m)

recoveries made nd announced but nt seen or put into any beneficial use 2 nigerians. Beats me

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twinster at 14-11-2010 11:17PM (9 years ago)
(132 | Upcoming) (m)

Quote from: ksurrina on 14-11-2010 11:02PM
They are properties and since some are overseas when will they be place in Sales. Will the citizens of Nigeria know about these sales and the payment of money be public knowledge? More information is needed were this is concern. Since the money is in assets then this is much ado about nothing. Sell so that the money can be of usage to the country of Nigeria.
The real fact abt dat country,dey are not truthful...
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nice9ija at 15-11-2010 03:15AM (9 years ago)
(1054 | Gistmaniac) (m)

Quote from: twinster on 14-11-2010 11:17PM
Quote from: ksurrina on 14-11-2010 11:02PM
They are properties and since some are overseas when will they be place in Sales. Will the citizens of Nigeria know about these sales and the payment of money be public knowledge? More information is needed were this is concern. Since the money is in assets then this is much ado about nothing. Sell so that the money can be of usage to the country of Nigeria.
The real fact abt dat country,dey are not truthful...


really?? and which country are you from plz???
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ebonyxxx at 15-11-2010 03:19AM (9 years ago)
(639 | Upcoming) (m)

IN THE LAST SEVEN YEARS!!! HABA

AND NO EFFECT ON OUR LIFE, OUR ROADS, OUR AGRICULTURE SECTOR
OR ON OUR EDUCATION OR HEALTH SERVICES.
WHERE IS THE MONEY THEN?

REAL BULLSHIT!!!
, KETTLE CALLING POT BLACK

ONE DAY UNA MONKEY GO GO MARKET AND SHALL NEVER RETURN
ISEEEEEEEEEEEEEEEEEEEEEEEEEEEE!!!!
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nice9ija at 15-11-2010 03:45AM (9 years ago)
(1054 | Gistmaniac) (m)

as we don hearam 4 news no finish...no more
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osaosifo at 15-11-2010 05:46AM (9 years ago)
(48 | Newbie) (m)

 I chop, you chop. Na so for Naija. This story is nothing new. I grieve for Naija.
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osaosifo at 15-11-2010 05:55AM (9 years ago)
(48 | Newbie) (m)

In the absent of law and order you have anarchy. Nothing new in Naija.
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walerian at 15-11-2010 10:07AM (9 years ago)
(1472 | Gistmaniac) (m)

as wonders shall never end
theft shall never end in naija
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stankydessy at 15-11-2010 10:36AM (9 years ago)
(96 | Newbie) (m)

damn...those shit both the EFCC or what so ever them called them self... from where to where all this asset or money they go. did u guys remember the same happen when the notorious PRESIDENT most wanted ABASHA what happed to the money they recovers from him..did the Nigeria citizen knows about how the money went..am sick and tired of reading nonsense from all this criminals nothing is to be done about this..
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moniconyez at 15-11-2010 10:54AM (9 years ago)
(15326 | Hero) (m)

Recovering recovering recovering of Assets /Properties/Money.........After which we will not hear or get any informations on how it went............I pray for the betterment of that my country. Both the E.FC whatever are criminals........
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mezkaz18 at 15-11-2010 01:24PM (9 years ago)
(718 | Upcoming) (m)

the one wey Abacha recover where is it?
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