Alleged N2.5bn Fraud: Businessman’s Bid to Vacate Property Forfeiture Order Suffers Setback
Alex Enumah in Abuja Hearing in a suit seeking to set aside an interim forfeiture order against properties belonging to businessman, Abdullahi Saidu, suffered a setback yesterday, following the adjournment
Businessman Abdullahi Saidu sought to vacate an interim forfeiture order against his properties in a suit filed with the Federal High Court in Abuja. However, the case faced a setback as the hearing was adjourned to October 16, pending the EFCC’s reply to Saidu’s motion. The properties at risk include two four-bedroom semi-detached duplexes, a three-bedroom terrace duplex, two landed plots, and a supermarket plaza, all allegedly seized due to alleged involvement in an N2.5 billion fraud.
The EFCC obtained the ex parte order to temporarily seize Saidu’s assets, supported by an affidavit detailing their claims against him. The seized properties are linked to a diamond transaction allegedly defrauded Alhaji Adamu Ya’u, with the suspects purportedly collecting millions of dollars for clearance and other purposes, while Ya’u alleged no diamonds were supplied.
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