A former chairman of the People’s Democratic Party, Adamu Muazu, has finally admitted that he is the owner of 16 Osborne Road in Ikoyi, Lagos where the Economic and Financial Crimes Commission (EFCC) recently discovered a hoard of $50 million in cash.

Mr. Muazu admitted to owning the building in a chat with SaharaReporters.
Mr. Muazu contacted SaharaReporters through his UK-based aide, Akin Oyegoke, and admitted that the built the house and began selling apartment units to buyers. He also claimed that the building still has some empty apartments yet to be sold. He also admitted that he reserved the penthouse at the building for his personal use.
Mr. Oyegoke would not disclose Mr. Muazu’s whereabouts but merely said that the former PDP chairman 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.

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