{"id":216536,"date":"2022-09-15T06:50:07","date_gmt":"2022-09-15T05:50:07","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=216536"},"modified":"2022-09-15T06:50:23","modified_gmt":"2022-09-15T05:50:23","slug":"drug-linked-lagos-properties-buyer-to-pay-extra-n32m","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/09\/15\/drug-linked-lagos-properties-buyer-to-pay-extra-n32m\/","title":{"rendered":"Drug-linked Lagos properties\u2019 buyer to pay extra N32m"},"content":{"rendered":"<p>The Minister of Works and Housing, Babatunde Fashola, said the buyer of two real estate properties confiscated for drug-related crimes in 2001 would now pay the Lagos State Government the full valuation price of the assets.<\/p>\n<p>This amounts to N18m and N20m to be paid for the Lagos-based properties earlier purchased for N5m and N2m respectively.<\/p>\n<p>Fashola, who stated this after Wednesday\u2019s Federal Executive Council meeting, said the new directive followed a memo which revealed that the government was underpaid in the 21-year transaction.<\/p>\n<p>The properties, a four-bedroom bungalow on Adeniyi Jones, Ikeja, Lagos, and a five-bedroom duplex on Amadasun Street, Ikoyi GRA, Lagos, were seized by the National Drug Law Enforcement Agency in the course of a <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/08\/07\/nigerian-man-attacks-narcotics-control-bureau-officials-after-being-arrested-with-cocaine-in-india\/\" target=\"_blank\" rel=\"noopener\">narcotics<\/a> prosecution.<\/p>\n<p>He said the government had mandated the buyer to pay N18m for the bungalow and N21m for the five-bedroom duplex being the cost at which they were valued in 2001.<\/p>\n<p>However, <a href=\"https:\/\/www.withinnigeria.com\/news\/2022\/08\/25\/why-buhari-govt-borrowings-are-justifiable-fashola\/\" target=\"_blank\" rel=\"noopener\">Fashola<\/a> kept mute on the identity of the buyer and the narcotic dealer who the <a href=\"https:\/\/www.withinnigeria.com\/news\/2022\/08\/22\/ndlea-arrests-grandpa-for-shipping-illicit-substances-to-his-daughter-in-dubai\/\" target=\"_blank\" rel=\"noopener\">NDLEA<\/a> confiscated the properties from.<\/p>\n<p>\u201cThey were properties sold as a result of a prosecution for narcotics by NDLEA. So, they were proceeds of drug crimes, but the valuation process followed the NDLEA Act instead of the Financial Regulations Act. \u201c<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Minister of Works and Housing, Babatunde Fashola, said the buyer of two real estate properties confiscated for drug-related crimes in 2001 would now pay the Lagos State Government the full valuation price of the assets. This amounts to N18m and N20m to be paid for the Lagos-based properties earlier purchased for N5m and N2m [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":48818,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"PUNCH","source_url":"","via_name":"","via_url":"https:\/\/punchng.com\/drug-linked-lagos-properties-buyer-to-pay-extra-n32m\/","override_template":"0","override":[{"template":"custom","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"single-left","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"floatbottom","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored 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N32m<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2022\/09\/15\/drug-linked-lagos-properties-buyer-to-pay-extra-n32m\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Drug-linked Lagos properties\u2019 buyer to pay extra N32m\" \/>\n<meta property=\"og:description\" content=\"The Minister of Works and Housing, Babatunde Fashola, said the buyer of two real estate properties confiscated for drug-related crimes in 2001 would now\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.withinnigeria.com\/news\/2022\/09\/15\/drug-linked-lagos-properties-buyer-to-pay-extra-n32m\/\" \/>\n<meta property=\"og:site_name\" content=\"NEWS PICKS \u2014 WITHIN NIGERIA\" \/>\n<meta property=\"article:publisher\" 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