Ikoyi plaza n450million finally forfeited to federal government #

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For those who may not know, Ikoyi Plaza is a luxury apartment complex in Lagos, Nigeria, that was raided by the Economic and Financial Crimes Commission (EFCC) in 2021. The agency discovered a staggering sum of N449,857,000 (approximately $1.2 million USD) in cash and other assets in the building.

After a lengthy investigation and legal proceedings, the EFCC has finally forfeited the seized funds to the Federal Government of Nigeria. This means that the government will retain the money as a result of the alleged illegal activities linked to the property.

The forfeiture order was made by the Federal High Court in Lagos, and it's a significant victory for the EFCC in its efforts to combat financial crimes and corruption in the country.

It's worth noting that the owners of the property, including a former Minister of Petroleum Resources, Diezani Alison-Madueke, have denied any wrongdoing and are contesting the seizure of the funds. However, the EFCC has maintained that the money was proceeds of unlawful activities and that the owners failed to provide a satisfactory explanation for its origin.

The Ikoyi Plaza saga has sparked widespread debate and controversy in Nigeria, with many calling for greater transparency and accountability in the country's financial dealings.