Section 1: Forfeiture of property.

(1) The immoveable property known as No.8 Okotie-Eboh Street, South-West Ikoyi in Lagos State, registered as No. LO 5128 at the Land Registry at Lagos is hereby forfeited to the Federal Government.
(2) Accordingly, the said property (and all rights and interests pertaining thereto), together with all fixtures and furniture contained in any building or structure erected on the said property or left or lying elsewhere on the property, shall, as from the commencement of this Act and without further assurance apart from this Act, vest in the Federal Government absolutely and free from all encumbrances.