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EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze - Politics - Nairaland

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EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by NwaNimo1(m): 10:19pm On Jun 10
[
The Economic and Financial Crimes Commission (EFCC) has recovered billions of naira worth of assets from two brothers, Olisaebuka Eze and Onyeka Nnadozie Eze, following a court order.

The assets, including 20 properties, 10 vehicles, and three luxury wristwatches, were forfeited to the federal government, according to an EFCC statement on Monday.

The brothers were accused of stealing billions of naira and millions of dollars from a petitioner, Arthur Eze, through fraudulent means.

The EFCC‘s investigation revealed that the brothers used the stolen funds to acquire the properties and assets, which have now been recovered.

In a final forfeiture ruling by a three-man panel of justices, the Appeal Court in Abuja dismissed the appeal filed by the brothers and affirmed the final forfeiture of the properties, vehicles, and other items to Arthur Eze, the nominal petitioner, as presented by the Commission’s counsel, Ibrahim Buba.


The properties, all located in the Federal Capital Territory (FCT), Abuja, were held by the court to have been acquired with proceeds of crimes committed against Arthur Eze.

The properties and items, which Justice Modupe Osho-Adebiyi of the FCT High Court, sitting in Gudu, Abuja, had in April 2022 ordered their final forfeiture to the petitioner, include:

– A seven-bedroom duplex at Plot 1772 Cadastral Zone B06, Mabushi District, FCT, Abuja, located at No: 5 Ifeanyi Araraume Street, Mabushi, Abuja;

– Plot No. 621, Cadastral Zone B07 within Katampe District with file No. JG 10188;

– Nine units of two-bedroom flats located at Plot 375 off Ameyo Adadovah Way, Kado District, Abuja;

– A three-bedroom terrace duplex located at Brookhouse Residence, Karsana District, FCT, Abuja;


– Plot No. AHE540 in Lugbe AMAC Housing Estate measuring 1,500sqm;

– Plot No. 285, measuring 1,589.28sqm in Cadastral Zone E23, Kyami District, Abuja;

– Plot No. R9530AA, measuring 1,000sqm, located at Traders Layout 3, Gwagwalada Area Council, Abuja (listed twice).

Other properties include:

– Plot No. XK1057, measuring 800sqm, located in Apo Layout, AMAC, FCT, Abuja;

– A plot of land with RofO with file No. AN 69550 dated 28/10/2012 at Kyami District, Abuja;

– Plot No. 0844 in NAF Valley Estate, Asokoro, Abuja, measuring about 1316.79sqm;

– Plot No. 188, Cadastral Zone E12 of Orozo, measuring 875sqm.

The items include:

– A red Oulm wristwatch, stainless steel back Japan Move 3377;

– A golden-colored Just Bling wristwatch JB-6116;

– A golden Piaget wristwatch with serial no. 8066-639333.

The vehicles are:

– A Toyota Camry 2014/2016 model;

– A Toyota Camry 2014 model;

– A Toyota Highlander;

– A Honda Accord 2013 model;

– A Mercedes Benz GLE 2015 model;

– A Toyota Tundra with chassis No. STFRYF17EX171601 and a car spare key;

– A Toyota Avalon with registration No. RSH111;

– A Honda Civic with registration No. YAB58EN;

– A Mercedes Benz C 400 with registration No. KWL43A5;

– A Kia SUV.


Dissatisfied with the High Court order, the brothers approached the appellate court in separate appeals, praying that the order be set aside.

However, in the Appeal Court judgment read by Justice H.A. Barka, the appellate court held that the duo did not satisfactorily prove that they legitimately acquired the properties and all the items involved.


According to Justice Barka, the appellants did not place any material before the court to enable it to disturb the findings of the lower court.

The court further held that the appeal lacked merit and dismissed it accordingly.

The road to the final forfeiture began in 2020 when the EFCC received a petition from Arthur Eze, alleging theft, criminal misappropriation, and money laundering against the first respondent, Olisaebuka Eze, who was the administrative officer of his company, Oranto Petroleum Ltd.

According to Arthur Eze, Olisaebuka Eze, in connivance with his brother Nnadozie Eze, stole money that ran into billions of naira and millions of dollars, which they used to acquire properties in Abuja and Enugu.

Upon conclusion of investigations, the Commission arrested Olisaebuka Eze and his brother, Nnadozie Eze, and froze their bank accounts following court orders.

In an attempt to challenge the actions taken against them, the respondents filed a suit at the FCT High Court, Apo, before Justice S.B. Belgore, seeking the enforcement of their fundamental rights.

At the end of the hearing, Justice Belgore held that the Commission had violated the fundamental rights of the respondents and awarded N10 million in damages in their favor. The Commission, through its counsel, Buba, challenged the ruling in the Court of Appeal, which overturned the decision of the lower court and held that the detention of the respondents by the Commission and the freezing of their accounts were for the purpose of investigation and were properly backed by court orders.

The appellate court further awarded N500,000 against the respondents in favor of the EFCC.

https://www.vanguardngr.com/2024/06/efcc-recovers-billions-in-assets-for-oil-magnate-arthur-eze/

7 Likes 3 Shares

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by 100millionGoal: 10:33pm On Jun 10
Good job yet one can argue this is selective witch hunting.

4 Likes 1 Share

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by NwaNimo1(m): 10:43pm On Jun 10
Arthur doesn't play with money.......

25 Likes 4 Shares

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by 2aces(m): 10:53pm On Jun 10
Family and business can never mix, they will always see whatever you've built as theirs too and will use it how ever they please.
You can only lament in frustration, but can't do shiiit. grin

37 Likes 3 Shares

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by 66spirit(m): 10:59pm On Jun 10
Greedy thieves with entitlement mentality

25 Likes 1 Share

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by Ibst: 11:11pm On Jun 10
No to fraud

2 Likes

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by budaatum: 11:29pm On Jun 10
FreeStuffsNG:

Olisaebuka Eze and Onyeka Nnadozie Eze

Those are his relatives o wink

Those two will then hire some people to kill him and we will be here yelling "Cow"!

14 Likes 2 Shares

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by Ever8090: 11:36pm On Jun 10
Where d money? Even if them recover am true true, them go still loot am share small thing reach d man..

1 Like 2 Shares

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by kokoA(m): 12:17am On Jun 11
Family shouldn't be stealing from family.

27 Likes 1 Share

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by pointblank247(m): 2:26am On Jun 11
FreeStuffsNG:

Olisaebuka Eze and Onyeka Nnadozie Eze

Those are his relatives o wink
So ?

2 Likes

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by BitterTruth0001: 2:47am On Jun 11
2aces:
Family and business can never mix, they will always see whatever you've built as theirs too and will use it how ever they please.
You can only lament in frustration, but can't do shiiit. grin

Even if you try to do much , na your own parents and grandparents go ask you to forgive and forget ; leave it to God grin

21 Likes 1 Share

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by UltimateCSH(m): 3:57am On Jun 11
Ndi igbo kwenu🥲

2 Likes 1 Share

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by OmotolaDeniro(f): 4:23am On Jun 11
Ebimpawa ooooo Tinubu

10 Likes 1 Share

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by franugo(m): 4:24am On Jun 11
Are they relatives?
Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by dododawa1: 4:25am On Jun 11
Southwest

In

Progress

1 Like

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by Focusmind: 4:39am On Jun 11
Are they his nephews? They should have tried to settle with him out of court. Arthur Eze is not an ordinary Nigerian. He is a shrewd businessman and highly connected

30 Likes 1 Share

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by Cmanforall: 4:40am On Jun 11
More money and resources for him

But is this a family matter?
Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by Thundafireseun: 4:44am On Jun 11
I have said this before and I will gladly say it again….

The problem of one Igbo man

Is another Igbo man

11 Likes

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by pharmagba: 4:46am On Jun 11
100millionGoal:
Good job yet one can argue this is selective witch hunting.

I am wondering why no money in the frozen bank account were mentioned?
Why listing the property and not mentioning the amount frozen?
Something is amiss!

1 Like

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by Ogbuu101: 4:46am On Jun 11
😂
Arthur onye nku.
See long list of properties recovered from just one source ooo,imagine how many he owns himself?
And Arthur currently doesn’t have any business in Nigeria ooo,all his businesses are abroad,doesn’t do government contracts.
When we tell una say Igbo money no be small,una go de argue.
In Nigeria only those stealing govt money or engaging in dubious govt sponsored monopoly like Dangote have such money

10 Likes 1 Share

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by raskymonojendor: 4:48am On Jun 11
Author Eze doesn't want to joke with 1 Kobo of his money, but at the same time, he traveled to the north to donate 200 million naira to Azman university in Kano. Lol.

5 Likes

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by VICKYLIVE(m): 4:48am On Jun 11
This guy's don't want to see change in Nigeria.
Pls invest in properties and secure your investment with a reliable company.

@set reality we have Affordable lands

Dm to get one and secured property
09113623643
Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by Pikahol(m): 4:54am On Jun 11
2aces:
Family and business can never mix, they will always see whatever you've built as theirs too and will use it how ever they please.
You can only lament in frustration, but can't do shiiit. grin
chai
Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by Teejay13(m): 5:09am On Jun 11
Wow a massive win Author

2 Likes 1 Share

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by Agadinaagwuofe: 5:11am On Jun 11
Focusmind:
[b]Are they his nephews? [/b]They should have tried to settle with him out of court. Arthur Eze is not an ordinary Nigerian. He is a shrewd businessman and highly connected

Yes they are his nephews, I heard he has forgiven them but I am sure he wants to recover all they stole from him. I don't support them stealing from him but I don't think he still needs all these properties recovered. I agree with you he should have seek for out of court settlement but Arthur Eze na hardman wey no dey gree until he takes his pound of flesh.

27 Likes 4 Shares

Re: EFCC Recovers Billions In Assets For Oil Magnate, Arthur Eze by Barrylord4040: 5:11am On Jun 11
There Is A Lot Of Hunger In South-East - Cubana Chief Priest

2 Likes

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