Politics

Court orders interim forfeiture of ex-PPMC chief’s N2.4bn to Nigerian government

Court orders interim forfeiture of ex-PPMC chief’s N2.4bn to Nigerian government

Justice O. A. Adeniyi of the High Court of the Federal Capital Territory, Abuja, on Monday ordered the interim forfeiture of N2, 417, 037, 404  belonging to a former Managing Director of the Pipelines and Product Marketing Company (PPMC), Haruna Momoh, to the Federal Government.

The Spokesperson of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Rasheedat Okoduwa, who disclosed this to journalists, said the Commission has started moves to seize the funds permanently alongside some landed properties linked to the ex-PPMC chief.

According to her, the assets include cash in local and foreign currencies stashed in multiple accounts in different banks as well as five landed properties located in different parts of Abuja metropolis.

Okoduwa said ICPC traced a total sum of N1.4 billion to six bank accounts in two different banks operated by Momoh’s wife, Eileen Ochuko Momoh, who is the owner of Blaid Construction.

She said: “The wife had four bank accounts with the United Bank for Africa (UBA) where the combined sum of N469.2 million in foreign and local currencies was stashed and two other accounts with Union Bank, where the Commission found $1, 678, 975 million and N496, 137, 895 million respectively.

“We also discovered Euro 173, 601.55, $5, 563.21 and N876, 209, 744 in three Stanbic IBTC bank accounts traced to Multi-functions Nigeria Limited and the sum of N800, 663.43 in Citibank also belonging to the same company.

“The properties likely to be forfeited are; Plot 199, Ebitu Ukiwe Street, Utako; Nos. 21, 22, 23 and 26 Olympia Estate, Kaura District; Plot 1824, Cadastral Zone, BO7, Katampe; plot 1827, Cadastral Zone; BO7, Katampe, and No. 6 Casamance street, Wuse Zone 3, all in Federal Capital, Abuja.”

 

 

 

 

Adekola Shobiye

A very versatile writer with prolific writing experience in the media industry
Adekola Shobiye

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Adekola Shobiye

A very versatile writer with prolific writing experience in the media industry

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