Saraki’s Ikoyi houses not proceeds of illegal funds, court declares

…refuses EFCC’s request for forfeiture order

Federal High Court sitting in Lagos, on Monday, ruled that the Ikoyi houses of the former Senate President, Dr. Bukola Saraki, were not purchased with illicit funds.

The court also ruled that the houses were bought with proceeds of any illegal activity.

Presiding judge, Justice Mohammed Liman, gave this ruling after refusing to grant the application of the Economic and Financial Crimes Commission for a forfeiture Order on Saraki’s Ikoyi houses.

Justice Liman said that the EFCC had failed to provide any proof that the money with which the houses located on McDonald Road, Ikoyi, were bought came from the vaults of the Kwara State Government.

According to the Judge, the houses were purchased with a credit facility granted the former Senate President by the Guaranty Trust Bank.

Recall that the court’s findings were in line with the Supreme Court’s conclusion in the Asset declaration case involving Saraki with the same property as its subject.

Justice Liman also stated that the matter before him were not criminal in nature like the Supreme Court case under reference.

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