Ikoyi Cash: Court Dismisses Union Bank Claims Over Osborne Towers

An opened cabinet containing foreign currencies recovered from flat 7B Osborn Towers, Ikoyi, Lagos State.

Following claims by Union Bank Plc, to Flat 7B, Osborne Towers, Ikoyi, Federal High Court in Lagos has dismissed the banks allegations.

Ordering the permanent forfeiture of the property to the Federal Government, the court described the bank as a poke noser.

The Osborne Towers flat came under public focus in April 2017, following the discovery of huge sums of money, precisely  $43,449,947, £27,800 and N23, 218,000 (about N13bn).

The Economic and Financial Crimes Commission (EFCC) revealed that the monies were concealed in iron cabinets and “Ghana-must-go” bags in the apartment.

The commission later traced the ownership of the apartment to Mrs. Folashade Oke, the wife of the suspended and then sacked Director General of the National Intelligence Agency, Ayodele Oke.

Meanwhile, no individual has been prosecuted over the stashed funds.