The Federal High Court sitting in Lagos has fixed April 24, for its ruling on the final forfeiture of two properties belonging to a former President of the Senate, Dr. Bukola Saraki.
The Economic and Financial Crimes Commission (EFCC), is seeking the final forfeiture to the Federal Government of Dr. Saraki’s properties situated at 17 & 17A, McDonald Road, Ikoyi, Lagos.
Moving the application for the final forfeiture of the properties on Thursday (March 5th), counsel to the applicant, Nnaemeka Omewa, told Justice Mohammed Liman, that the properties were acquired with a loan obtained from Guaranty Trust Bank and paid back by money suspected to have been diverted from the coffers of the Kwara State government.
The counsel specifically said that “There are written statements from some officials of the Kwara State government on how the money was taken from the coffers of the state government and used to pay back the loan,”.
The EFCC, therefore, asked the court to look at the merit of its case, all the exhibits attached and make an order permanently forfeiting the properties to the Federal Government.
Meanwhile, the former Senate President through his counsel, Kehinde Ogunwumiju (SAN), has asked the court to reject the application by the EFCC.
The counsel argued that the EFCC has not been able to prove that the money used to pay back the loan was acquired by any illegal activity.
He also told the court that the EFCC had litigated on the same properties before the Code of Conduct Tribunal all the way to the Supreme Court and had lost.
The counsel then asked the court to dismiss the EFFC’s suit seeking the final forfeiture of the properties and to instead, rule in favour of the former Senate President.
After listening to both parties, Justice Liman adjourned the case till April 24 for judgment.