Justice Okon Abang of the Federal High Court in Abuja on Monday, ordered Iyalikam Nigeria Limited, a company belonging to a former Chief of Defence Staff, late Chief Air Marshal Alex Badeh to forfeit $1m and houses to the federal government.
He also ordered the immediate winding up of the company after it made a u-turn by pleading guilty to the 10 counts charge of money laundering which Badeh had previously denied.
The houses which Justice Abang ordered to be forfeited to the government are located in choice areas of Abuja.
The guilty plea was part of the plea bargain agreement reached between the Economic and Financial Crimes Commission and the defence.
Assets linked to Badeh and Iyalikam which Justice Abang ordered their final forfeiture to the Federal Government were listed in the plea bargain agreement which the EFCC reached with the defence and filed before the court on Monday.
Recall Alex Badeh, a former chief of defence staff in Nigeria was killed in December 2018 while returning from his farm when his vehicle was attacked by gunmen along the Abuja-Keffi road.
Before his death, Badeh had been dragged to court by the EFCC for allegedly using a company incorporated by him, Iyalikam Nigeria Limited for money laundering and fraudulent removal of about N3.97bn from NAF’s account.[?]