EFCC hands over N4.5b edifice seized from ex-CDS Badeh to VON

EFCC hands over N4.5b edifice seized from ex-CDS Badeh to VON

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The multi-billion naira property seized from a former Chief of Defence Staff (CDS), the late Air Marshal Alex Badeh, was yesterday handed over to the Voice of Nigeria (VON).

The Economic and Financial Crimes Commission (EFCC) handed over the edifice valued at over N4.5 billion. It is located at Plot 1386, Oda Crescent, off Aminu Kano Crescent, Wuse 2, Abuja.

EFCC Acting Chairman Ibrahim Magu said with a successful fight against corruption, 70 per cent of Nigeria’s problems would have been solved.
A statement by the agency’s Head of Media and Publicity, Mr. Tony Orilade, said:

“The edifice is one of the properties seized from and finally forfeited to the Federal Government by the late Chief of Air Staff, Alex Badeh.
“According to the Acting Chairman of the commission,  Magu,  who was represented at the occasion by the Secretary to the Commission, Ola Olukoyede, the hand over is a testament that the fight against corruption is real.
“If we are able to fight corruption in Nigeria concertedly, we would have fought 70% of Nigeria’s problem.”

The Chairman of the Board of VON, Ibrahim Buba and the Director-General (DG), Osita Okechukwu, led other management staff to the handover ceremony.
A source in the commission said: “From the records in our Assets Forfeiture Unit, the value of the property, inclusive of the land, is about N4.5 billion.

Until he was killed, Air Vice Marshal Badeh was facing trial for amended 14-count charge bordering on money laundering offence.

On March 4, a Federal High Court in Abuja convicted and ordered the immediate winding up of a company, Iyalikam Nigeria Limited belonging to Badeh. 
Apart from the forfeiture of $1 million, some choice assets were also lost by the firm which pleaded guilty to 10 count-charge of money laundering before Justice Okon Abang.

The assets are:
* A mansion at No. 6, Ogun River Street, Off Danube Street, Maitama, Abuja
*A shopping mall at Plot 1386, Oda Crescent Cadastral Zone A07, Wuse II, Abuja
* A duplex at No. 19, Kumasi Crescent, Wuse II, Abuja
* A duplex situate at No. 14, Adzope Crescent, Off Kumasi Crescent, Wuse II, Abuja
* A semi-detached duplex situate at No. 8A, Embu Street, by Sigma Apartment Wuse II, Abuja
*The sum of $1,000,000.00 only recovered from No. 6, Ogun River Street, Off Danube Street, Maitama, Abuja

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