A former chairman of the People's Democratic Party, Adamu Muazu, has finally admitted that he is the owner of the house at 16 Osborne Road Ikoyi, Lagos where agents of the 

Economic and Financial Crimes Commission (EFCC) recently discovered a hoard of $50 million in cash. 

Mr. Muazu admitted to owning the building during a telephone conversation between his London-based aide, Akin Oyegoke, and a correspondent of SaharaReporters. 

Nigerians, as well as other observers, have been scandalized since news broke yesterday that EFCC agents, acting on a tipoff from whistleblowers, raided the apartment in the upscale Ikoyi suburb of Lagos and found staggering sums of cash in US Dollars, British Pounds Sterling and Naira, Nigeria’s currency. The cash was found in fire-proof safes placed behind a false wall in Apartment 7B.

The EFCC has yet to officially reveal the owner of the money. However, a senior source at the anti-corruption agency has told SaharaReporters that the cash possibly belongs to Esther Nnamdi-Ogbue, an erstwhile director of retail at the Nigeria National Petroleum Corporation (NNPC). Ms. Nnamdi-Ogbue was sacked three days ago over a scandal involving the illegal sale of 130 million liters of gasoline belonging to the NNPC. An EFCC investigator said the sacked NNPC executive colluded with a controversial oil marketer, Ifeanyi Ubah, to enable his company,  Capital Oil Company sell gasoline belonging to NNPC. Mr. Ubah is currently detained at the Department of State Security (DSS) facility in Abuja.

Meanwhile, earlier today Ms. Ogbue denied ownership of the money found at Osborne address, saying that the owners were well known. One source stated that the apartment where the cash was discovered belongs to one of the daughters of a top PDP chieftain, Anthony Anenih. 

Speaking to SaharaReporters through his aide, Mu'azu admitted this afternooon that he is the owner of the building, but has sold a fews apartments in the buiding to buyers while the rest remain unoccupied. He also admitted that he reserved the penthouse at the building for his personal use.

Mr. Oyegoke would not disclose Mr. Muazu’s whereabouts, rather he said that the former PDP chieftain often  travels between Nigeria and several international destinations.

Mr. Muazu had initially denied the ownership of the property until SaharaReporters revealed the fact that a construction company, ETCO, which built the apartment complex listed him on their website as the owner/client. No 16 Osborne Road, Ikoyi

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