The Economic and Financial Crimes Commission on Sunday released a list of 103 choice properties allegedly belonging to a former Managing Director of Oceanic Bank International Plc, Mrs. Cecilia Ibru, and affirmed that the said properties remained seized. The commission had earlier seized the properties and shares linked to her in 27 companies, including banks, oil and gas, telecommunications, aviation as well as real estates and manufacturing firms.

The anti-graft agency claimed that some of the properties were bought with funds belonging to Oceanic Bank.

Details showed that the choice properties were in Nigeria, South Africa, Dubai, London and the United States.

THE PUNCH had on December 22, 2009 exclusively reported that the commission had discovered 11 properties in Maryland, United States allegedly owned by Ibru, most of which were registered in family members’ names.

The 11 properties have a combined worth of $5,457,483.

Out of the 11 properties, three were acquired in her name and they are: 11300 Dappled Grey Way, Upper Marlboro Maryland, with the price tag of $987,949. It was allegedly purchased on October 7, 2008.

According to the EFCC, properties traced to her in Nigeria are 51 and are located mainly in Lagos, Abuja and Port Harcourt.

The Lagos properties are in Ikoyi, Victoria Island, Lekki Peninsula, and Dophin Estate.

They include a 12-storey tower on a one-hectare of land at Ozumba Mbadiwe Water Front, Victoria Island and a multiple-storey user block of flats under construction on 1st Avenue, Banana Island, Ikoyi, Lagos.

Another is the Good Shepherd House, IPM Avenue, opposite Alausa Secretariat, but registered in the name of Ogekpo Estate Managers.

Besides, the commission discovered one million square metres of land in Lekki, 8,000 square metres of land at Okunade Water Front, Lekki Penninsula, another 7,000 square metres, another 15,000 square metres in the same Okunade Water Front.

In Abuja, some of the choice properties traced to Ibru are Metro Plaza building 991/992 Zakariya Maimalari Street, Central Area, Zone 5, a four-storey building at Herbert Macaulay Way, Wuse, Metro Plaza Annexe B, Zakariya Maimalari Street and flats 1-4 Block D33, Abuja Games Village.

In Port Harcourt are three residential towers in the GRA and a property at 22, Sani Abacha Way, also in the GRA.

Also, in Dubai, Ibru allegedly owns 28 shops at International City Building, while residential properties are seven.

For South Africa, the EFCC stated, “Residential properties purchased with the funds of Oceanic Bank International Plc, through Accustrat (Pty) Limited, Meha Real Estate, Scharde Designs PTY Limited and Vakson Freehold Properties.”

Others are 4141 Chariot Way; Upper Marlboro Maryland valued at $441,790 but acquired on April 13, 2009; and 4143, Chariot Way; with the price of $439,362, also acquired the same day.

Six other properties are in the name of two females, while two properties had the name of two males, all bearing Ibru.

Particulars of property linked to other family members are: 4155 Chariot Way, Upper Marlboro, Maryland ($452,508) acquired on March 12, 2009.

4145 Chariot Way, Upper Marlboro, Maryland ($440,105) secured on April 14, 2009 and 4139 Chariot Way, Upper Marlboro, Maryland ($451,629) got on April 21, 2009.

Others include 14605 Hawley Lane; Upper Maryland ($399,999) dated July 22, 2008, and 14630 Hawley Lane, Upper Marlboro, Maryland ($460,703) dated May 17, 2008.

The rest are 14721 Argos Place, Upper Marlboro, Maryland ($457, 950) dated October 28, 2008 and 14719 Argos Place, Upper Marlboro, Maryland valued at $451,840 dated November 26.

However, Ibru is challenging her removal as the CEO of Oceanic Bank in court just as she pleaded not guilty to the charges the EFCC brought against her.

Her share holding in other banks include 272,795,139 in First Bank and Access bank with 44,800,000 shares.

The First Bank shares are held through Cloudy Heights Limited, Circular Global International Limited and Bliss Bloss Integrated Services Limited.

Fidelity Bank shares number 12,500, First City Monument Bank, 7,142,800, Guarantee Trust bank, 110,000 ordinary shares, Bank PHB 93,800,100, UBA 109,121, Union Bank 13,300,000 and Zenith Bank, 10.280million.

Oceanic Bank shares are in quantum, just as she allegedly has shares in Dangote Sugar Refinery, Glaxo SmithKline Consumer Plc, Nestle Plc, Oando Plc, African Petroleum Plc, Dangote Flour Plc and Unilever Nigeria Plc.

An EFCC source who asked not to be named claimed that N235bn had been traced to Ibru.

He explained that the need to recover the money informed the agency’s decision to go after the properties.

- Full list of seized properties on pages 59–61 of the print edition AT A GLANCE –Shares in 27 listed Nigerian firms

–Owns 275.7 million shares in First Bank

–51 houses in Lagos, Abuja, Port Harcourt

–1,030,000 square metres of land in Lekki

–28 shops at International City Building, seven houses in Dubai

–Estates in South Africa

–11 properties in Maryland, USA worth $5.4m

–Shares in Access, Fidelity, Union, Zenith, UBA, BankPHB, FCMB and GTBank


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