Breaking News

Bank fraud: EFCC seizes Ibru’s 103 houses

By Emma Ovuakporie

ABUJA—The Economic and Financial Crimes Commmission, EFCC, yesterday finally seized 103 choice houses and shares in 77 companies in Nigeria belonging to former Managing Director of Oceanic Bank Plc, Mrs Cecilia Ibru.

The anti-graft agency had privately carried out on the spot assessment of the former bank CEO’s assets scatterred all over the world and had to act quickly by placing a seal on the said properties before agents start selling them off.

According to impeccable sources close to the commission, the houses in Nigeria are located in Abuja, Port-Harcourt and Lagos in choice areas like Maitama, Victoria Island, Wuse Zone 6, Ikoyi, Lekki, Ikeja, Lagos Island and Isale Eko.

The EFCC in pursuant of  Section 28 of the Economic and Financial Crimes Commission, (Establishment) Act 2004 had to attach the list of all the assets belonging to Ibru who is presently undergoing prosecution over alleged misappropriation of public funds and unwholesome banking practices.

Shares in 77 companies allegedly owned by Ibru were also seized, including cars found in one of the properties in Lagos and several shops in the United Arab Emirates and the United States


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.