BREAKING News: Court Dismisses Union Bank's Claim To Ikoyi Apartment

 

 

The claim of Union Bank Plc to Flat 7B, Osborne Towers in Ikoyi, Lagos, has been dismissed by the Federal High Court in Lagos, who described the bank as a busybody, just as it ordered the permanent forfeiture of the property to the Federal Government.

 

Recall that the flat attracted public attention in April last year when large sums of foreigb=n currencies - $43,449,947, £27,800 and N23, 218,000 (about N13bn) - were recovered from it by operatives of the Economic and Financial Crimes Commission (EFCC).

 

The anti-graft agency later traced the ownership of the apartment to Mrs. Folashade Oke, the wife of the suspended Director General of the National Intelligence Agency, Ayodele Oke.

 

It claimed that its investigations revealed that Folashade bought the properties with proceeds of fraud by her husband.

 

We'll bring you more details later…