Home Top Stories Mu’azu Denies Ikoyi Building Where EFCC Uncovered Massive Monies

Mu’azu Denies Ikoyi Building Where EFCC Uncovered Massive Monies


By Teddy Nwanunobi

Abuja (Sundiata Post) — Former Governor of Bauchi State, Ahmadu Adamu Mu’azu, on Friday, denied ownership of the building in which massive monies were uncovered by the Economic and Financial Crimes Commission (EFCC), saying that “I do not own or occupy any of the apartments”.

The EFCC, on Wednesday, stormed a residential building in the 7th Floor of a four-bedroom apartment at Osborne Towers located at 16, Osborne Road, Ikoyi, Lagos, and discovered the sums of $43.4 million, N23.2 million and £27,800.

Reports had linked the duo of Mu’azu and a former Managing Director of the Nigerian National Petroleum Corporation (NNPC), Esther Nnamdi-Ogbue, to the building.

Twenty-four hours later, Nnamdi-Ogbue, through her counsel, Emeka Etiaba, denied any connection with the EFCC’s discovery.

“By this press release, we inform the public (especially the news media) that the said sums of money and/or the apartment, where the sums of money were found, do not belong to our client,” Etiaba said.


Twenty-four hours, after Nnamdi-Ogbue’s reaction to the story linking her to the humongous finding of the anti-graft Agency, the former National Chairman of the Peoples Democratic Party (PDP) came out with an explanation that he had already “sold all the apartments through established estate agents”.

Entitled ‘My Connection To No. 16 Osborne Road, Ikoyi, Lagos’, Mu’azu reaction, which came through his Facebook wall, added that he has no knowledge or interest in who purchases or rents any of the flats.

“My attention has been drawn to the news making the rounds that I own the building on No.16 Osborne Road, Ikoyi, Lagos. I want to state clearly that I built the said property and sold to prospective buyers of individual flats.

“I have been a property developer since 1983, and I have developed and sold several properties all over the world; the property in question happens to be one of them.

“I acquired the land, and jointly (developed) it, using a bank loan, I obtained about nine (9) years ago.

“However, all the flats have been sold to prospective buyers in order to pay back the loan.

“I do not own or occupy any of the apartments. I sold all the apartments through established estate agents; as such, I have no knowledge or interest in who purchases or rents any of the flats.

“I commend the efforts of the official of the EFCC, and the government’s drive at fighting corruption, and also the media in informing the public on illicit and corrupt proceeds.

“My response is not intended to jeopardise or interfere with the ongoing investigation of the anti-graft and security agencies, but to clear the misconception that the house in question belongs to me.

“I strongly believe that the efforts being made will surely unveil the real owner of such flat and the monies recovered,” he said.

Meanwhile, a Federal High Court in Lagos has ordered, on Thursday, an interim forfeiture of the funds to the Federal Government.

In his ruling, Justice Muslim Hassan ordered that anyone, who is interested in the money, should appear before him at the next adjourned date to show reason why the money should not be permanently forfeited to the Federal Government.

“The Commission was also directed to publish in any national daily for anyone to show cause within 14 days why the order of final forfeiture should not be granted.

“The interim forfeiture was obtained pursuant to Section 17 of the Advance Fee Fraud and other related offences Act 2006,” EFCC said in a statement.

The case was adjourned to May 5, 2017.

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