The Economic and Financial Crimes Commission on Friday told a Federal High Court in Lagos that the apartment on Osborne Road, Ikoyi, where $43.5 million was found, was bought for N360 million by a company allegedly owned by Folashade Oke, the wife of the suspended Director-General of the National Intelligence Agency, Ambassador Ayo Oke.
In an affidavit and exhibits tendered to support a prayer for the permanent forfeiture of the money to the Federal Government, the EFCC said a company called Choba Ventures Limited bought the Flat 7 and paid for it between August and September 2015.
Fine and Country Limited was the vendor.
Up till now, despite notices published in newspapers, neither Folashade Oke nor Choba Ventures had stepped out to claim the money.
This is because as a source in the NIA said, the flat does not belong to Mrs. Oke as claimed but bought by her and sold ultimately to the NIA.
The property was said to have been procured through a proxy company and is legally owned by NIA with relevant documents.
The source said if normal and civil procedures are used for security duties, then nothing will work.
It was said that the details given by the EFCC is the normal security way of doing things, adding that there must always be a means of covering up for all acts within the security circle for operations to be successful.
The source said this is why it is normal to use proxy for classified actions.
In most cases, it was said, the proxies are not even aware of the full details of the assignment they are embarking on as intelligence agencies use fronts for actions.
The property was said to have been procured through a proxy company, thus it is legally owned by NIA with relevant documents.
The source explained that this was why Ambassador Oke had claimed before the Presidential Panel, headed by Vice-President Yemi Osinbajo, that the money belongs to the NIA.
Reports said the money was part of the $285 million withdrawn from the account of a subsidiary of the Nigerian National Petroleum Corporation for covert operations in the South West part of the country with the approval of former President Goodluck Jonathan in 2015.
In the affidavit filed in support of its prayer for forfeiture, the EFCC tendered the receipt of payment to Choba Ventures Limited issued by another company, Fine & Country Limited.
EFCC’s lawyer, Rotimi Oyedepo, said the commission’s finding in the course of investigation leaves no one in doubt that flat 7, Osborne was purchased by Choba Ventures Limited and that the company’s directors are one Mrs. Ayodele Folashade Oke and her son.
The agency said Folashade Oke, to buy the property, gave $1.658 million to Salla Petroleum and Gas Limited, which turned out to be a Bureau De Change company.
The latter converted the money to Naira and credited the account of Fine and Country.
Fine and Country acknowledged the receipt of the money on August 27 and 28 as well as September 2 and 3, 2015 with a Naira equivalent of N360 million.
“Upon the payment, a Deed of Assignment was then executed between UBN and Choba Ventures Limited,” Oyedepo said.
Oyedepo therefore urged the court to hold that the commission’s submission that the house and the money found in it are reasonably suspected to be proceeds of unlawful act.
He also urged the court to agree to permanently forfeit the money to the Federal Government in view of the fact that no one has come forward to lay claim to the money within the 14 days given by the court.
The EFCC had during the raid on the Flat in April recovered $43,449,947, £27,800 and N23,218,000.
The money was kept in iron cabinets and “Ghana must go” bags.
The commission said in coming forward to seek the order for final forfeiture, it has complied with the court directives as contained in the earlier oder of interim forfeiture granted by the court by publishing the order in a national daily newspaper.
The commission said it did not only publish the order of interim forfeiture, it went further to serve the motion and order on the owner of the property where the money in question was found.
Justice Muslim Hassan had earlier granted an order of interim forfeiture, which must be published in a national daily newspaper to allow anyone interested in the money to come forward within 14 days and show cause why the money should not be permanently forfeited to the Federal Government of Nigeria.
The anti-graft agency said so far nobody has come forward to show interest in the huge money found.
Justice Hassan has adjourned ruling till June 6.