Court orders final forfeiture of N250m traced to ex-NDDC chief | Ripples Nigeria
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Court orders final forfeiture of N250m traced to ex-NDDC chief

The Economic Financial Crimes Commission (EFCC) on Friday secured a final forfeiture of a lllssr N250 million traced to the account of a former Managing Director of the Niger Delta Development Commission (NDDC).

The EFCC’s Head of Media and Publicity, Dele Oyewale, who disclosed this in a statement, said Justice R.M. Aikawa of the Federal High Court, Lagos, gave the final forfeiture order.

He, however, refused to disclose the name of the NDDC chief in question.

Oyewale said: “The EFCC had approached the court, seeking the forfeiture of the fund, arguing that it was traced, recovered and reasonably suspected to be part of proceeds of unlawful activities.

READ ALSO: Ex-NDDC chief has no NYSC certificate – Akpabio

“Specifically, investigation by the commission revealed that a contractor with the NDDC, received funds for a purported contract and transferred N250 million, suspected as kickbacks, to a real estate company, for the acquisition of a property in favour of the former MD of the NDDC.

“The EFCC, armed with enough facts and figures involved in the transaction, approached the court for the forfeiture of the money to the government. Justice Aikawa granted the order of final forfeiture accordingly.”

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