Yar’Adua Foundation, 24 other properties forfeited to FG - Khorgist.com

Breaking

Post Top Ad

Advertise Here

Post Top Ad

fight xenophobia add



Thursday, 19 December 2019

Yar’Adua Foundation, 24 other properties forfeited to FG



A final forfeiture order has been secured by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) against 25 properties in Abuja which included those of Shehu Yar’Adua Foundation and 24 other registered entities.
A Federal Capital Territory High (FCT) Court (No.3) Maitama, presided over by Hon Justice Baba H. Yusuf, ruled on an ex-parte application filed by ICPC granting it the final forfeiture order against the properties.
The order obtained by the ICPC against the properties is for their owners’ alleged failure to pay their taxes as at when due, for which the Federal Inland Revenue Service (FIRS) had to prepare a schedule of tax obligations against them.
ICPC spokesman Rasheedat Okoduwa in a statement said the forfeited companies were among 29 entities that had been earlier approached with a net N8.6 billion tax liability, but they denied ownership of the properties.
“For this reason, a complaint was submitted to the office of the Vice President of the Federal Republic of Nigeria, which was forwarded to the Commission for further action,” Okoduwa said.
Consequently, ICPC filed an ex-parte application in the FCT High Court under Section 17 of the Advance Fee Fraud and Other Related Offences Act, 2006, seeking an Interim Forfeiture Order against the properties of the tax defaulters, which was granted.
In compliance with the order of the court, the ICPC published notices in national newspapers calling for persons having interest in all or any of the forfeited properties to appear and “show cause” why the said properties should not be finally forfeited to the federal government.
She explained that three companies — Frankdiowo Nigeria Limited, Kati Nigeria Limited and R.Timmermann & Co Nigeria Limited – appeared in court to explain why their properties should not be finally forfeited by urging the court to discharge them.
Okoduwa, however, said only Frankdiowo Nigeria Limited showed “good cause” and was discharged, while the other two will return to court for the hearing of their affidavits.
She said many of the forfeited properties are located in central highbrow areas of Abuja such as Wuye, Jahi, Utako, Wuse, Garki II, etc.

No comments:

Read Comment Policy ▼
PLEASE NOTE:
We have Zero Tolerance to Spam. Chessy Comments and Comments with Links will be deleted immediately upon our review.

Post a Comment

Post Top Ad


Do you ever witness news or have a story that should be featured on Khorgist ?
Submit your stories, pictures and videos to us now via WhatsApp: +2348123601750, Social Media @khorgist_com: Email: [email protected] More information here.