By Ifeoluwa Odunayo\u00a0<\/b><\/p>\n
The Central Bank of Nigeria (CBN), has asked the Federal High Court in Abuja to dismiss an Economic and Financial Crimes Commission (EFCC), forfeiture case over a N2.7 billion property in Karmo District, Abuja.<\/p>\n
At a hearing on Thursday, CBN\u2019s lawyer, Joseph Abah, informed Justice Emeka Nwite that the bank had filed legal documents to challenge EFCC\u2019s claim and join the case.<\/p>\n
The contested property, Plot 781, Cadastral Zone 001, was used as collateral for a loan obtained through the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL).<\/p>\n
The legal battle began after the EFCC, on August 8, 2024, filed a motion seeking interim forfeiture of the asset, citing alleged financial irregularities involving Toks Properties Limited.<\/p>\n
On September 3, 2024, Justice Nwite approved the EFCC\u2019s request, placing restrictions on the sale, lease, or disposal of the property.<\/p>\n
However, the CBN is now pushing back, insisting that the forfeiture order be overturned, setting the stage for a high-stakes legal showdown.<\/p>\n","protected":false},"excerpt":{"rendered":"
By Ifeoluwa Odunayo\u00a0 The Central Bank of Nigeria (CBN), has asked the Federal High Court in Abuja to dismiss an Economic and Financial Crimes Commission (EFCC), forfeiture case over a N2.7 billion property in Karmo District, Abuja. At a hearing on Thursday, CBN\u2019s lawyer, Joseph Abah, informed Justice Emeka Nwite that the bank had filed […]<\/p>\n","protected":false},"author":32,"featured_media":62256,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[59],"class_list":["post-62254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/62254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=62254"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/62254\/revisions"}],"predecessor-version":[{"id":62257,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/62254\/revisions\/62257"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/62256"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=62254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=62254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=62254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}