About 400 posh cars believed to have been seized from a former Inspector-General of Police, Mr. Tafa Balogun, ex-governors and some prominent businessmen by the Economic and Financial Crimes Commission now compete for space with weeds at the commission’s premises in Abuja.

Although it was not clear why the vehicles were dumped there, SUNDAY PUNCH learnt that the cars were part of the assets which were seized following the Assets Forfeiture order obtained from a court by the EFCC which was to enable professional property managers use the assets to generate revenue for the Federal Government.

An Assets Forfeiture Unit was said to have been put in place in 2008 by the commission’s former chairman, Mrs. Farida Waziri, whose mandate was to ensure that all assets forfeited to the Federal Government, through the EFCC, were identified and verified.

The report of the AFU submitted to the commission showed that between 2003 and 2010, the EFCC had seized 203 posh mansions from Politically Exposed Persons, including 15 ex-governors from 46 Forfeiture Court Orders.

The landed property and business concerns which were valued at N2tn included 238 bank accounts worth over N500bn, 320 million units of shares in blue-chip companies, 18 firms and 28 plots of land.

Others are 43 vehicles, three fuel stations, four hotels, two warehouses, four shopping complexes, five schools, two bakeries and three estates.

Balogun’s Lagos and Abuja assets were valued at N1.56bn.

osifred: This country tire me o

crazygod: Little wonder, infact NO WONDER these guys behave the way they do. What's the difference between that college and kirikiri?

Lovine: What do the Minister of Police affairs do with the yearly budget? God will judge them

omenka: Now this is a chance to truely make the police our friends! Imagine all of us comming together in huge numbers to protest over the condition of this school... Just wonderin how the govt wld respond to that...

Pelummy: Jst treking by,cnt view

Tusky44: Where is the "massive transformation and reforms" going on with the police force

Meanwhile, Nairaland is growing at a very abnormal pace of recent. See below

Stats: 999333 members, 1100162 topics. Date: Wednesday, 16 January 2013 at 09:41 PM