Court Orders Final Forfeiture Of Cash Seized From Ikoyi Flat

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The Federal High Court sitting in Lagos has granted the final forfeiture of the cash seized by the Economic and Financial Crimes Commission (EFCC) from an apartment in Ikoyi apartment, to the Federal Government.

The court had on Thursday, April 13 ordered the temporary forfeiture of the $43m, N23m and £27,000 that the EFCC discovered in the Ikoyi apartment.

In ordering the temporary forfeiture of the cash, Justice Muslim Hassan, had given any interested party in the cash until May 5, 2017, to show cause why the money should not be permanently forfeited to the Federal Government.

The EFCC had raided the apartment after a whistle-blower alerted it to the suspicious movement of bags in and out of the apartment.

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