Court backs EFCC’s temporary takeover of Safetowers Estate, Lekki

In order to forestall the economic impasse of fraudulent transactions, Justice Sule Hassan of the Federal High Court in Lagos, last week ordered an interim forfeiture of Safetowers Estate located at Ikate, Lekki, pending the conclusion of an investigation.

The order was based on the ex-parte application filed by Nkereuwem Anana, counsel to the Economic and Financial Crimes Commission (EFCC), which sought for an interim order of forfeiture of the parcel of land measuring 50027, 147sqm, situate, lying and being of Lekki Pennisula Scheme and described as Block 116, Plot III, Ikate Ancient City, Eti-Osa Local Council, Lagos State, in Survey Plan No. BAS258/2013/130-1.

The project, is being promoted by Safetrust Mortgage Bank Limited and Macbosh Properties Limited.

Defendants in the case include: Akintayo Oloko, Managing Director, Safetrust Mortgage Bank Limited, first respondent; Macbosh Properties Limited, Agent to Safetrust, second respondent and Safetrust Mortgage Bank Limited, third respondent; while Kunle Ogunmefun is the victim/petitioner.

The EFCC has predicated its prayer on the ground that the court has the statutory powers under the provisions of sections 24, 28 of the EFCC Act 2004, Section 44 (2) (k) of the Constitution of the Federal Republic of Nigeria and under the inherent jurisdiction of the court to forfeit property that is a subject of fraud or connected thereto.

The commission averred that the property sought to be attached are reasonably suspected and traceable to be connected to economic and financial crimes as an instrument of fraud. The application, they stated, is supported by a 19–paragraph affidavit deposed to by one Isaac Gong, an investigative officer of the EFCC.

Gong stated that the Commission received a petition indicating that the respondents are in possession of properties used in defrauding the victim and that he (Gong), was one of the team operatives of the applicant assigned to conduct investigation on a petition. Upon receipt of the said petition, same was analysed and found worthy of investigation.

The petition, according to the Commission revealed that Safetrust Mortgage Bank Limited proposed to construct a three-high-rise buildings within a construction and delivery period of 24 months and offered to sell one of the high-rise buildings to the victim, Ogunmefun at an agree sum of N710 million.

Upon agreement, the victim made a total deposit payment of N550million with the understanding that the property will be delivered within the specified period of 24 months from the date of execution of the Memorandum of Understanding.

However, according to the Commission, after the victim made the payment to the third respondent, it refused to deliver the said proper to the victim, as agreed.

Further investigations however revealed that the third respondent, who is indebted to Sterling Bank Plc, thereby obtained the victim to settle its debts with Sterling Bank Plc.

“Immediately, the victim paid the sum of N550 million to account of the third respondent which is domiciled in Sterling Bank Plc., Sterling Bank Plc took the money, as the debt owed her by the 3rd respondent.

Already, the EFCC has moved to take possession of the project expected to be delivered within the said construction period of 24 months.