The Economic and Financial Crimes Commission (EFCC) has secured an interim forfeture of the multi-billion naira Safe Towers Estate located at Ikate, Lekki in Lagos.
The property is promoted by Safetrust Mortgage Bank Limited and Macbosh Properties Limited.
Justice Muslim Hassan made the order while ruling on an ex-parte application filed by EFCC counsel Nkereuwem Anana.
Akintayo Oloko, Macbosh Properties Limited and Safetrust Mortgage Bank Limited are the respondents. Oloko is Safetrust Mortgage Bank’s Managing Director.
The anti-graft agency sought an interim order forfeiting the parcel of land measuring 50027, 147 square metre at Lekki Pennisula Scheme, known as Block 116, Plot 3, Ikate Ancient City, Etiosa, with Survey Plan No BAS258/2013/130-1.
It prayed that the interim order should subsist pending the conclusion of investigation on the property.
The application was based on sections 24, 28 of the EFCC Act 2004 and Section 44 (2) (k) of the 1999 Constitution.
According to the EFCC, the property sought to be attached was under investigation over alleged fraudulent activity.
The application was supported by a 19-paragraph affidavit deposed to by an EFCC operative, Isaac Gong.
Gong sid he was part of a team that investigated a petition alleging that the respondents were in possession of properties used in perpetrating fraud.
He said the petition was analysed and found worthy of investigation.
The EFCC said the petition revealed that Safetrust Mortgage Bank proposed to construct and deliver three high-rise buildings within 24 months.
According to EFCC, Safetrust Mortgage Bank offered to sell one of the highrise buildings to Mr. Kunle Ogunmefun at an agreed sum of N710 million.
The EFCC also averred that a non-disclosure agreement was executed between Ogunmefun and Macbosh Properties Limited on the understanding that Macbosh, the second respondent, is an agent of Safetrust Mortgage Bank.
Ogunmefun, the EFCC said, made a deposit of N550 million with the understanding that the property would be delivered within 24 months from the date of execution of the memorandum of understanding.
The commisison said despite making the payment, Safetrust Mortgage Bank allegedly failed to deliver the property to the complainant as agreed.
According to the anti-graft agency, further investigation revealed that the third respondent was indebted to Sterling Bank Plc, and that immediately the complainant paid the N550 million to Safetrust Mortgage Bank’s account domiciled in the bank, the bank took the money.
The EFCC said the third respondent allegedly “obtained” the money from Ogunmefun by pretending that the money was meant for constructing the highrise building, but instead used it to settle his indebtedness.