Mu’azu: I sold my Ikoyi house to pay bank loan…I know nothing about ‘recovered loot’

Adamu Mu’azu, former chairman of the Peoples Democratic Party (PDP), says he knows nothing about monies found by the Economic and Financial Crimes Commission (EFCC) at a property reported to be his in Ikoyi, Lagos.

On Wednesday, EFCC said it discovered $43.4m, £27,800 and N23.2m in a house in Ikoyi, Lagos, which was said to belong to the ex-PDP chairman.

Mu’azu, who was the governor of Bauchi state from 1999 to 2007, said he took a bank loan to acquire the land where the house was built, and eventually had to sell it to pay back the loan.

“My attention has been drawn to the news making the rounds that I own the building on No.16 Osborne Road, Ikoyi, Lagos. I want to state clearly that I built the said property and sold to prospective buyers of individual flats,” he said.

“I have been a property developer since 1983 and I have developed and sold several properties all over the world, the property in queation happens to be one of them. I acquired the land and jointly develop it using a bank loan, I obtained about nine (9) years ago.

“However all the flats have been sold to prospective buyers inorder to pay back the loan. I do not own or occupy any of the apartments. I sold all the apartments through established estate agents as such I have no knowledge or interest in who purchases or rents any of the flats.”

Mu’azu commended the EFCC for the fight against corruption, stating that he believes they will reveal the real owner of the apartment, where the monies were found.

“I commend the efforts of the official of the EFCC and the government’s drive at fighting corruption and also the media in informing the public on illicit and corrupt proceeds.

“My response is not intended to jeopardise or interfere with the ongoing investigation of the anti graft and security agencies but to clear the misconception that the house in question belongs to me.

“I strongly believe that the efforts being made will surely unveil the real owner of such flat and the monies recovered.”