The Federal High Court in Abuja has ordered the forfeiture of all properties of a company, Iyalikam Nigeria limited, connected to late Chief of Defense Staff Alex Badeh to the Federal government.
The court also convicted the company connected to the late Badeh of corruption and money laundering charges
Justice Okon Abang gave the order in a Judgment delivered in the suit filed against late Badeh and his company, by the Economic and Financial Crimes Commission (EFCC),
Late Badeh and his company were standing trial on a 14 count charge of criminal breach of trust, money laundering amongst others.
Justice Abang also has terminated the charges filed against the late Air Chief, just as he ordered the winding down of Iyalikam Nigeria limited on the request of his counsel.
The court’s decision was however predicated on a plea bargain reached by both the defence and prosecution counsel. But the court found the company guilty of the charges and ordered that all properties in line with the 10-count amended charge be forfeited.
The prosecuting counsel, Oluwaleke Atolagbe at the resumption of the trial informed the court of the agreement by the parties even though the business of the day was for the second defendant to open its defence since the first defendant (Badeh) is now deceased.
Atolagbe, however, informed the court that in view of an agreement reached between the prosecution and the defense, a further amended charge of 10 counts had been filed as well as a plea bargain agreement.
“Having regards to the plea bargain agreement duly executed by the parties, Iyalikam Nigeria Limited is hereby wound up and the judgment shall be served on the Corporate Affairs Commission for execution”, justice Abang held.
Justice Abang also ordered that all the belonging to the company be forfeited to the Federal Government;
They include “A mansion situated at No.6 Ogun River Str., off Danube Str., Maitama Abuja.
“A shopping mall situated at Plot 1386, Oda Crescent, Cadastral Zone, Wuse II Abuja.
“A duplex located at No.19, Kumasi Crescent, Wuse II Abuja.
“A duplex at No. 14 Adzope Crescent, off Kumasi Cresent, Wuse II, Abuja.
“Semi-detached duplex at No. 8A Embu Str. by Sigma Apartments Wuse II, Abuja.
“The sum of $1 million recovered from No.6 Ogun River Str., off Danube Str., Maitama, Abuja.”
Late Badeh was killed while returning from his farm in Nassarwa state a few days to opening his defense in his trial.