30.2 C
June 17, 2024

EFCC recovers billions in assets for oil tycoon Arthur Eze

Ad image

The Economic and Financial Crimes Commission (EFCC) has successfully recovered billions of naira worth of assets from two brothers, Olisaebuka Eze and Onyeka Nnadozie Eze, following a court order.

In a statement released on Monday, the EFCC disclosed that the assets, which include 20 properties, 10 vehicles, and three luxury wristwatches, have been forfeited to the federal government.

According to the EFCC, the brothers were implicated in the embezzlement of billions of naira and millions of dollars from a petitioner, Arthur Eze, through fraudulent means.

Investigations revealed that the brothers utilized the stolen funds to acquire the properties and assets, which have now been recovered.

The final forfeiture ruling was handed down by a three-man panel of justices at the Appeal Court in Abuja, which dismissed the brothers’ appeal and affirmed the forfeiture of the properties, vehicles, and other items to Arthur Eze.

The Commission’s counsel, Ibrahim Buba, presented the case, stating that the properties, all situated in the Federal Capital Territory (FCT), Abuja, were acquired with proceeds of crimes committed against Arthur Eze.

The properties and items, which Justice Modupe Osho-Adebiyi of the FCT High Court, sitting in Gudu, Abuja, had in April 2022 ordered their final forfeiture to the petitioner, include:

– A seven-bedroom duplex at Plot 1772 Cadastral Zone B06, Mabushi District, FCT, Abuja, located at No: 5 Ifeanyi Araraume Street, Mabushi, Abuja;

– Plot No. 621, Cadastral Zone B07 within Katampe District with file No. JG 10188;

– Nine units of two-bedroom flats located at Plot 375 off Ameyo Adadovah Way, Kado District, Abuja;

– A three-bedroom terrace duplex located at Brookhouse Residence, Karsana District, FCT, Abuja;

– Plot No. AHE540 in Lugbe AMAC Housing Estate measuring 1,500sqm;

– Plot No. 285, measuring 1,589.28sqm in Cadastral Zone E23, Kyami District, Abuja;

– Plot No. R9530AA, measuring 1,000sqm, located at Traders Layout 3, Gwagwalada Area Council, Abuja (listed twice).

Related posts

We won’t recognise imposed candidates, says INEC amid Machina-Lawan row

Political Correspondence

Biden trips, tumbles on Air Force stage

Political Correspondence

CBN: Foreign oil firms prohibited from 100% repatriation of FX revenue

Political Correspondence

Leave a Comment