EFCC Secures Interim Forfeiture of N485 Million Linked to Alleged Fraudulent Property Deals
The Economic and Financial Crimes Commission (EFCC) has successfully obtained an interim forfeiture order from the Federal High Court in Abuja for the sum of N485 million. This amount was recovered during an investigation into Dr. Umar Ardo, who is accused of unlawfully acquiring four prime properties in the capital.
Justice Inyang Ekwo presided over the case on Friday, approving the EFCC’s application, titled “In the Matter of an Application by the Economic and Financial Crimes Commission for an Order of Interim Forfeiture of Funds Suspected to Be Proceeds of Unlawful Activity Recovered by the Commission from Dr. Umar Ardo Without Conviction Pursuant to Section 17 of the Advance Fee Fraud and Other Fraud-Related Offences Act 2006 and Under the Inherent Jurisdiction of This Court.”
According to the EFCC, Dr. Ardo is alleged to have paid cash for several properties, including a luxurious six-bedroom mansion in Wuse 2 and a four-bedroom detached duplex in Katampe. These transactions were reportedly made outside the regulatory framework that necessitates using financial institutions.
Details of the Investigation
Abubakar Muhammad Kwaidoan, an investigating officer with the EFCC, revealed in an affidavit that the Commission had received intelligence regarding individuals making substantial cash purchases of high-end properties in Abuja. Dr. Umar Ardo was identified as a primary suspect, prompting the EFCC to send letters of inquiry to various banks.
The investigation uncovered that Dr. Ardo made cash purchases from Cosgrove Investment Limited for a total of four properties. Kwaidoan provided specifics, noting that the respondent transferred a total of $504,200 to Danie Adokwu, an employee of Cosgrove, in two installments for a seven-bedroom villa in Katampe. The payments were made in cash on September 17 and September 27, 2019.
The dollars were purportedly received for a ‘political consultancy’ job from a politician, but the EFCC’s investigation found no evidence supporting Dr. Ardo’s claim of earning the $2,065,000 connected to this role. Subsequently, the Commission filed a criminal charge against him. However, following Dr. Ardo’s request for non-conviction—accepted by the EFCC—the charges were ultimately withdrawn. He then paid the forfeiture amount of N485 million into the EFCC’s Recovery Account in stages between August 16, 2024, and February 4, 2025.
Court Proceedings
During the court proceedings on Friday, EFCC’s legal representative G. I. Ndeh urged the judge to approve the ex parte application for interim forfeiture. When asked how long it would take to notify interested parties about the forfeiture order, Ndeh replied that the publication would take approximately 21 days.
In response, the judge stated, “Motion Ex-Parte dated 7th April 2025 is moved. Order as prayed,” and granted the interim forfeiture. The judge also mandated that notification about the order be published within 21 days and adjourned the case until May 8, 2025, for further reporting.
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