FG takes over N13 billion Ikoyi Loot

The final forfeiture of the the N13bn cash found by the Economic and Financial Crimes Commission (EFCC) at an upscale apartment complex in Ikoyi, to the Federal Government has been issued today by Justice Hassan of the Federal High Court sitting in Lagos.
Officers of the Economic and Financial Crimes Commission (EFCC) had in April this year raided the apartment complex following a tip-off that huge sums of money were stashed in one of the apartments. In the raid, the EFCC recovered $38 million, £27,000 and N23 million cash in a fireproof cabinet that was carefully hidden behind a false wall.
Recall that nobody claimed ownership of the discovered funds until at long last Mr. Oyodele Oke, the then Director General of Nigeria Intelligence Agency, stepped up to claim that the money belonged to his agency. Mr. Oke, whose wife the whistle-blowers identified as the conveyor of the cash, argued that the money was approved by the former administration for some ‘covert’ operation.
Now that the money has been formally forfeited to the Federal Government, it is hoped that it will be put to good use and not go the way funds meant for the good of the general public always end up in the country.
More grease to the elbows of the EFCC as we hope they will recover more and more stolen funds.