Cecilia Ibru moves to recover forfeited properties

A suit filed by Mrs Cecilia Ibru, the former Managing Director of defunct Oceanic Bank asking the court to help her retrieve all her properties seized by the federal government has been objected to by the The Asset Management Corporation of Nigeria (AMCON).

Mrs Ibru, who was convicted in October 2010 by a federal high court after a plea bargain, forfeited assets worth N191billion comprising 94 properties across the world, including the US, Dubai and Nigeria to AMCON. She was sentenced to 6 months imprisonment after her conviction.

Mrs Ibru who sued for herself, Ibru Group and three others asked the court to stop the Attorney-General of the Federation and AMCOM from further implementation of the terms and conditions of the plea bargain before her conviction.