Falana Denies Buying Abuja Property From EFCC

Posted by African Examiner Featured, Latest Headlines, News Across Nigeria, News From The State Monday, March 8th, 2021

(AFRICAN EXAMINER) – Activist-lawyer Femi Falana (SAN) has denied ownership of a property at 42, Gana Street, Maitama District in Abuja.

He said there was no truth in the story that he bought the property from the Economic and Financial Crimes Commission (EFCC).

The lawyer made the clarifications in a statement yesterday in Lagos, titled: “I have never bought any property from the EFCC.”

Falana explained that though he initially expressed interest in the property but withdrew from it before the transaction could be completed.

Explaining his position, the activist-lawyer said the disputed property, allegedly recovered by the Pension Reform Task Team (PRTT), was valued at N6 billion but sold to him for N1 billion sometime in 2015.

“I wish to say, without any fear of contradiction, that the property in question was never recovered by the Presidential Pension Task Force.

“It is on record that the property was used as a collateral by the owner, A. Group Properties Limited, for a loan from Bank PHB in 2008. When the owner of the property defaulted in the payment of the loan, it was taken over by the Asset Management of Nigeria (AMCON) via an order of interim forfeiture.

“However, in an attempt to liquidate the loan, the owner of the property wanted to sell it. My law firm agreed to buy the property for N250 million. But we withdrew from the transaction due to the delay in resolving the case. Up till now, the case is still pending at the Federal High Court,” he said.

Falana cited the order of Justice E. S. Chukwu of an Abuja Federal High Court in suit which granted possession of the property to AMCON in November 2015 to buttress his argument.

The lawyer challenged the Federal Government to forfeit the N1 billion he purportedly paid for the property and recover the property, if it was established that it was recovered by the Pension Task Force.

(Culled From The Nation)