A Federal High Court sitting in Lagos has ordered the interim forfeiture of the sum of N827million recovered from a businessman, Matthew Edevbie, to the Federal Government.
Justice Chukwujeku Aneke made the order following an ex parte application by the Economic and Financial Crimes Commission (EFCC).
EFCC’s counsel, Mr Rotimi Oyedepo told the judge that the sum, comprising N616,679,098.32 and N211,000,000.00 “is reasonably suspected to be part of proceeds of unlawful activities”, adding that the money was deposited in Flank Power Ltd’s bank account owned by Matthew Edevbie, between February 11 and 19.
“The sum is “reasonably suspected to be proceeds of unlawful activity pursuant to Section 17 of the Advance Fee Fraud and other Fraud related offences Act, 2006 and Section 44(2)b of the 1999 Constitution,” Oyedepo said.
Oyedepo also told the court that if the application “was not heard and determined expeditiously the monies housed in the said bank account sought to be temporarily forfeited will be dissipated.
The court therefore ordered the interim forfeiture of the said N827million to the Federal Government. The court also directed the EFCC to advertise the order in any national daily for any interested party to appear before the court within 14 days and show cause why the money should not be permanently forfeited to the government, while adjourning the proceedings on the matter till June 29.
