Tue. Nov 19th, 2019

Breaking: Court Orders forfeiture of Saraki’s Houses

This afternoon, a Lagos state Federal High Court ordered the interim forfeiture of two houses belonging to the immediate past Senate President, Senator Bukola Saraki.

This verdict comes after Economic and Financial Crimes Commission filed an ex parte application seeking the order of interim forfeiture of two houses belonging to the former Senate President of the Federal Republic of Nigeria.

This is because, the two houses all located at 17A McDonald Road, Ikoyi, Eti Osa Local Government Area, were allegedly acquired through “proceeds of unlawful finances and other activities.”

This allegation by the EFCC have it that while senator Bukola Saraki was serving as Kwara state governor, he withdrew an amount in the region of #12bn cash and payable into his two separate bank accounts with Access and Zenith Banks respectively through his personal Assistant, Abdul Adama between 2003 and 2011.

The money was then allegedly used by Saraki to offset a N1.36bn bank loan he used in purchasing homes located at 15, 15A, 17, 17A and four flats on Macdonald Road, Ikoyi, Lagos, hence the decision of the commission to seize the properties.

After Justice Liman ordered the interim forfeiture, he further instructed the EFCC to publish the order along with the pictures and address of the properties in a national newspaper within 14 days, for anyone with interest in the properties to show cause, why they should not be permanently forfeited to the Federal Government.

This case between Senator Saraki and EFCC has been on ground since June 29, 2019 while he was still the Senate President of Nigeria. The EFCC filed an application before Justice Taiwo Taiwo of the Federal High Court, Abuja,  to rescind the ex parte order preventing the commission from investigating and prosecuting Saraki. This was then a counter-affidavit with suit number FHC/ABJ/CS/507/2019.



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