FG Seizes Yar’adua Centre, 24 Other Properties In Abuja

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 the Independent Corrupt Practices and Other Related Offences Commission, ICPC granting it the final forfeiture order against the Shehu Yar’Adua Foundation (centre) and 24 other registered properties in Abuja.

The ICPC spokesman, Rasheedat Okoduwa, in a statement on Thursday, said that the forfeiture order was granted over alleged tax evasion by the owners of these properties for which the Federal Inland Revenue Service, FIRS, had to prepare a schedule of tax obligations against them.
According to her, the forfeited companies were among 29 entities that had been earlier approached with a net N8.6 billion tax liability.

The companies, she said, 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,” Mrs Okoduwa said.

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.

Mrs 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.

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