Reps Meet With Magu Over Ikoyi Funds

The House of Representatives Committee on National Security and Intelligence, has met with the Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim … Continue reading Reps Meet With Magu Over Ikoyi Funds


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The House of Representatives Committee on National Security and Intelligence, has met with the Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu over the cash recovered in an apartment in the Ikoyi area of Lagos State, months ago.

The committee said although there may have been silence over the huge cash haul uncovered in Osborne Towers, the matter is by no means forgotten.

Chairman of the Committee, Hon. Sani Jaji, told Channels Television that the meeting was part of the investigation into the more than 43 million dollars recovered from the apartment.

Read Also: EFCC Discovers Huge Sums Of Money In Ikoyi Apartment

The EFCC, on April 12 made the discovery of the 43 million Dollars, 23 million Naira and another 27,000 Pounds.

Meanwhile, the Rivers State Governor, Nyesom Wike, had claimed that the cash belonged to his state. 

Read Also: Court Orders Final Forfeiture Of Cash Seized From Ikoyi Flat

Amidst unclear circumstances surrounding the ownership of the cash, the Federal High Court sitting in Lagos subsequently granted its final forfeiture to the Federal Government.

Justice Muslim Hassan, who had on April 13 granted a temporary forfeiture of the $43m, N23m and £27,800 ordered its permanent forfeiture after no one appeared to provide concrete evidence of ownership.