NDC STATEMENT ON COURT RULING. (PHOTO). #PRESS RELEASE.

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 NDC STATEMENT ON COURT RULING Our attention has been drawn to a ruling by the Federal High Court sitting in Lokoja this morning, wherein His Lordship, Honourable Justice Isah Dashen, gave a ruling on an application filed by an unregistered association known as Peace Movement Party. The public knows that by December 2025, the Nigeria Democratic Congress  as an association complained of INEC’s refusal to register us as a political party, whereupon we proceeded to the Federal High Court. The Federal High Court upheld our constitutional right to freedom of association under the Constitution and compelled INEC to register us, which INEC did. Since then, we have started political activities, embarked on the registration of members, held congresses from ward to national levels, held conventions, and concluded primaries to all offices following INEC’s timetable. We have been fully participating in all INEC activities without let or hindrance. NDC also fielded candidates, and fully pa...
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ALLEGED FOREX, INVESTMENT FRAUD: COURT ORDERS INTERIM FORFEITURE OF N1.3BN HOTEL LINKED TO IKEJA CHAMBER MD, EDWARD OLUTOKE. (PHOTO). #PRESS RELEASE

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 Alleged Forex, Investment Fraud: Court Orders Interim Forfeiture of N1.3bn Hotel Linked to Ikeja Chamber MD, Edward Olutoke


Justice A.O. Owoeye of the Federal High Court sitting in Ikoyi, Lagos, on Wednesday, March 12, 2026, ordered the interim forfeiture of a hotel, Responsible Leaders Hotel, linked to Edward Olutoke, Managing Director, Ikeja Chamber of Commerce, Industry and Agriculture.


The property, located at 1, Ostra Close, Jobi Fele Way, Alausa, Ikeja, Lagos, is valued at about N1.3bn.


The judge gave the order, following an ex parte motion filed by the Economic and Financial Crimes Commission, EFCC, through its counsel, C.C. Okezie.


Moving the application for interim forfeiture, Okezie told the court that the application was supported by an affidavit deposed to by Obed Tanko, an investigator with the EFCC.


Tanko, in the affidavit, stated that the suspect allegedly obtained billions of naira from unsuspecting investors under the guise of operating a capital-guaranteed forex trading and investment scheme.


According to him, the petitioners allegedly invested various sums of money after being assured that the company was registered and accredited to carry out forex trading and investment activities.


Investigations, however, revealed that neither the suspect nor the organisation possessed the necessary regulatory approval to operate such an investment scheme.


Further investigation also revealed that the funds collected from several investors were allegedly diverted and used to acquire luxury assets, including the hotel.


Okezie, therefore, submitted that the property was reasonably suspected to have been acquired with proceeds of unlawful activities.


Justice Owoeye, having been fully persuaded by the evidence presented before the court, granted the application as prayed.


The judge also directed the Commission to publish the interim order in any national newspaper to enable any interested person to appear before the court and show cause why the property should not be finally forfeited to the Federal Government of Nigeria.

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