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Home Anti-Corruption Finally, Yar’Adua Foundation, 25 Exotic Properties in Abuja Forfeited to Government
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Finally, Yar’Adua Foundation, 25 Exotic Properties in Abuja Forfeited to Government

By
Rasheedat A. Okoduwa
-
December 19, 2019
ICPC
ICPC Logo

Finally, Yar’Adua Foundation, 25 Exotic Properties in Abuja Forfeited to Government

A final forfeiture order has been secured by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) against 25 properties in Abuja belonging to Shehu Yar’Adua Foundation and 24 other registered entities.

A Federal Capital Territory High (FCT) Court (No.3) Maitama, presided over by Hon Justice Baba H. Yusuf, ruled on an ex-parte application filed by ICPC granting it the final forfeiture order against the properties.

The order obtained by the Commission against the properties is for their owners’ alleged failure to pay their taxes as at when due, for which the Federal Inland Revenue Service (FIRS) had to prepare a schedule of tax obligations against them.

These companies were among 29 entities that had been earlier approached with a net N8.6 billion tax liability, but they denied ownership of the properties. For this reason, a complaint was submitted to the office of the Vice President of the Federal Republic of Nigeria, which was forwarded to the Commission for further action.

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Consequently, ICPC filed an ex-parte application in the FCT High Court under Section 17 of the Advance Fee Fraud and Other Related Offences Act, 2006, seeking an Interim Forfeiture Order against the properties of the tax defaulters, which was granted.

In compliance with the order of the court, the Commission published notices in national newspapers calling for persons having interest in all or any of the forfeited properties to appear and “show cause” why the said properties should not be finally forfeited to the federal government.

That being so, three companies — Frankdiowo Nigeria Limited, Kati Nigeria Limited and R.Timmermann & Co Nigeria Limited – appeared in court to explain why their properties should not be finally forfeited by urging the court to discharge them.

However, amongst them, only Frankdiowo Nigeria Limited showed “good cause” and was discharged, while the other two will return to court for the hearing of their affidavits.

Many of the forfeited properties are located in central highbrow areas of Abuja such as Wuye, Jahi, Utako, Wuse, Garki II, etc.

Signed:
Mrs. Rasheedat A. Okoduwa, mni
Spokesperson for the Commission

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Rasheedat A. Okoduwa
Rasheedat A. Okoduwa
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Local Government Autonomy Not Negotiable — FG DeclaresNigeria’s Future Rests on Smart Defence Management — Badaru to Military LeadersCustoms Hands Over 99.2bn Worth of Illicit Pharmaceutical Products to NAFDACTroops Intercept 3 Gunrunners, Seize Weapons, Cash in KadunaTroops Bust IPOB/ESN Logistics Network, Arrest Informants in Southeast — DHQSoludo and Radda’s Candid Confessions on Homegrown Terror By Tahir AhmadRat Story Was a Smokescreen to Divert Attention from Buhari’s Health - Garba Shehu RevealsNigeria's Second Chance at a Global Cashless Future By Fatimah Yusuf UsmanAir Chief Rallies New Intelligence Officers for Proactive Security ResponseCustoms, NAFDAC Activate MoU to Fight Substandard Products By Abdullah MaiwadaNELFUND Resumes Monthly Upkeep Payments, Credits Over 3,600 StudentsNNPCL Must Account for ‘Unreconciled’ N210tr in Financial Statements - Senate InsistsPresidency Debunks Misleading Reports on VP Shettima’s Remarks at Book LaunchPolice Arrest, Repatriate Chinese Fugitive Wanted for Tax FraudMurder of Wedding Guests: Plateau Court Remands 20 Suspects
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