Tax evasion: ICPC seizes N14.7bn property

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has seized 44 property valued at N14.7 billion belonging to 32 firms over tax evasion.

The confiscated property, according to a statement by the spokesperson to the commission, Mrs. Rasheedat Okoduwa, are made up of mansions, factory and 27 plots of lands linked to the affected firms, whose names were not disclosed.

The ICPC stated that all the property which are located in Abuja, were forfeited to the federal government after their owners denied ownership in a bid to dodge tax liabilities worth N883.7 million payable to the Federal Inland Revenue Services.

The ICPC spokesperson said: “The seizure is based on Section 45(4) of the Corrupt Practices and Other Related Offences Act 2000. The seized property include: two mansions, 27 barelands, one factory building, and 15 buildings at Asokoro, Maitama and other districts.’’

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