Alleged Fraud: Court orders temporary forfeiture of N827m to FG

A Federal High Court sitting in Lagos has ordered the temporary forfeiture of N616.2m and another N211m to the Federal Government.

The monies were said to have been recovered from a businessman, Matthew Edevbie.

Justice Chukwujeku Aneke made the order following an ex parte application brought under Section 17 of the Advance Fee Fraud Act of 2006 by the Economic and Financial Crimes Commission (EFCC).

The EFCC’s counsel, Mr. Rotimi Oyedepo, told the judge that the sum, which is reasonably suspected to be part of the proceeds of unlawful activities were traced to the bank accounts of Flank Power Resources which is said to be owned by the businessman, Mr. Edevbie.

The counsel also told the court that the monies will be dissipated if not immediately forfeited

While ordering the interim forfeiture of the monies, the court has also ordered the EFCC to publish the forfeiture in any National Newspaper for the businessman or anyone interested in the funds to appear before the court to show cause within 14 days on why the temporary forfeiture order to the Federal Government should not be made permanent.

The court then adjourned further proceedings till the 29th of June.
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