EFCC Goes After Saraki, Seized Houses

senateBukola Saraki
  • EFCC Goes After Saraki, Seized Houses

Embattled Nigeria’s Senate President, Bukola Saraki, once again has questions to answer concerning his properties and acquisitions as the Economic and Financial Crimes Commission (EFCC) has started seizing some of his properties in Lagos.

The houses, located at 15a, 15b and 17 MacDonald Road, Ikoyi, Lagos, are said to be seized by the commission.

However, because the commission was unable to precisely pinpoint which of the properties actually belong to the Senator, they decided to place inscriptions and stickers on the three houses suspected to be owned by the Senate President.

While the Senate president had declared 15a and 15b in his asset declaration form in 2015, the EFCC believed that the Senate President acquired other houses from the Presidential Implementation Committee for the Sales of Government Property through shell companies.

A source, who preferred to remain anonymous, said the houses were seized on Friday.

He said, “The EFCC had been making inquiries into the finances and assets of Saraki for quite some time. They came to inscribe ‘EFCC, Under Investigation’ in red on the walls and the fences. The irony is that even houses that don’t belong to Saraki were marked.

“From what we were told, they are keeping him under strict surveillance ahead of May 29, 2019 when they may invite him.”

In 2016, EFCC witness, Michael Wetkas, had said the Senate President bought the properties from the Presidential Committee on Sale of Federal Government Landed Properties in Lagos through his companies.

The witness had said, “My lord, there was a draft of N12.8m and another draft of N20m from Zenith Bank as well as a draft of N4m from GTBank as part of payment for the purchase of House No. 17 MacDonald Street.

“The N20m draft came from Carlys properties and Investment Limited and a draft of 136.1m was made on January 13, 2007 for the purchase of same property.

“Another draft of N180.6m was made through Saraki’s personal bank account in GTB.’’

Last week, the EFCC announced a probe into the activities of the Senate President dating back to 2003 when he became the governor of Kwara State.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

Be the first to comment on "EFCC Goes After Saraki, Seized Houses"

Leave a comment

Your email address will not be published.


*