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Court Granted Forfeiture Of Yar’Adua, Others’ Properties — ICPC

Court Granted Forfeiture Of Shehu Yar’Adua, Others’ Properties — ICPC

The Independent Corrupt Practices and other related offences Commission said on Thursday it had secured a final forfeiture order against 25 Abuja properties belonging to the Shehu Yar ’Adua Foundation and 24 other registered entities.

In March , the ICPC said it would seize the property of the foundation over tax evasion.

A statement posted on the website of the commission on Thursday said a Federal Capital Territory High Court sitting in Maitama and presided over by Hon Justice Baba Yusuf ruled on an ex -parte application filed by the ICPC granting it the order .

The statement read, “ A final forfeiture order has been secured by the ICPC against 25 properties in Abuja belonging to Shehu Yar ’ Adua Foundation and 24 other registered entities .

“ The order obtained by the commission against the properties is for their owners ’ alleged failure to pay their taxes as and when due , for which the Federal Inland Revenue Service had to prepare a schedule of tax obligations against them .

“ These companies were among 29 entities that had been earlier approached with a net N 8. 6 bn tax liability , but they denied ownership of the properties.

For this reason, a complaint was submitted to the office of the Vice President of the Federal Republic of Nigeria, which was forwarded to the commission for further action .”

“ Many of the forfeited properties are located in central highbrow areas of Abuja such as Wuye , Jahi , Utako , Wuse , Garki II, etc .”

Copyright PUNCH .

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