The Economic and Financial Crimes Commission (EFCC) said on Monday it had secured the final forfeiture of N827, 679,098.32 from Flank Power Resources Limited and GMFD Ventures Limited.
The two firms are linked to contractors with the Niger Delta Development Commission (NDDC).
The forfeiture order, according to the commission, was granted by Justice Chukwujekwu Aneke of the Federal High Court, Lagos.
The EFCC had urged the court to grant the final forfeiture of the funds to the federal government, saying they were proceeds of unlawful activity.
The court had on June 8 granted the interim forfeiture of the funds to the federal government.
The statement read: ”A breakdown of the recovery shows that N616, 679, 098.32 was recovered from Flank Power Resources Limited, while N211million was recovered from GMFD Ventures Limited.
“It was discovered that between 2018 and 2019, Flank Power Resources Limited received the funds from the NDDC, through its account number:1015642852, while GMFD received through account number: 1014657819 both of which are domiciled in Zenith Bank Plc for desilting contracts which aside being inflated, were not executed, but diverted and laundered.
“The sum of N616, 679, 098.32 recovered from Flank Power Resources Limited was facilitated through 62 Zenith Bank drafts in favour of the EFCC Recovered Funds Account with the Central Bank of Nigeria (CBN) while the N211million from GMFD came through 22 Zenith Bank drafts in favour of the same account.”
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