‘EFCC confiscates 200 mansions worth N2trn in 7 years’

by | March 3, 2013 12:22 pm



The Economic and Financial Crimes Commission (EFCC) has confiscated no fewer than 200 mansions and other business assets worth over N2 trillion in seven years, Tobi Okechukwu, a member of the House of Representatives disclosed on Thursday in Abuja.

The lawmaker, who read a motion jointly signed by 16 members on the floor of the House, said EFCC within terms of its mandate confiscated the property through 

 court orders, assents from accused and convicted persons, including, but not limited to prominent Nigerians and corporate organisations.

According to the lawmaker, the 200 mansions were confiscated through 46 court orders between 2003 and 2010.

“These landed property and business concerns, which were estimated to be over N2 trillion, also included billions of naira in bank accounts, shares in blue chip companies, exotic vehicles, fuel stations, hotels, warehouses, shopping malls, schools, bakeries, estates, telecommunication companies, radio stations in and outside Nigeria,” he said.

He expressed concern that there had been cases of vandalism, abandonment and waste of hitherto operating companies prior to forfeiture.

Meanwhile, the House of Representatives on Thursday mandated the Committee on Petroleum Resources 

  (downstream) to investigate the NNPC on the rationale behind the prolonged stay of M.T TUMA vessel in Brazil.

The committee, which will report back to the House within six weeks, is expected to ascertain the role of individuals and companies connected with the vessel.

This resolution followed a motion by Kamil Akinlabi (ACN-Oyo), which was unanimously adopted without a debate.