EFCC Seals Off Ibru Properties In Lagos

San Francisco Jan 25, (THEWILL) – The Economic and Financial Crimes Commission (EFCC) on Monday started sealing off properties allegedly owned by former CEO of Oceanic Bank Plc, Mrs. Cecilia Ibru following an interim order granted by a Lagos Federal High Court.

The ex bank Chief who is facing a 25-count criminal charge bordering on fraud and mismanagement, was discovered to have acquired properties locally and abroad with depositors’ funds. In Nigeria, 51 properties have been traced to her spanning locations in Abuja, Lagos and Port Harcourt. All the properties are in choice locations.

EFCC operatives stormed a number of the properties in Lagos on the Ikoyi axis and took over the ones located at George Street, Iru Close, Glover and Cooper Road respectively. EFCC sources said 16 more properties would be sealed off on the Ikoyi axis when the exercise continues on Tuesday.

The commission said it would seal off properties in other parts of the country but was silent on when the properties traced to her abroad would be seized. The properties are located in South Africa, Dubai in the UAE, United Kingdom and the United States.

Mrs. Ibru if found guilty may be sentenced to a jail term as the EFCC has ruled out any chance of a plea bargain for any persons or companies it is prosecuting because of the backlash it received after former Edo State Governor, Mr. Lucky Igbinedion got a ‘pat on the wrist’ sentence after cutting a plea bargain with the agency.