Breaking News

Court orders final forfeiture of N449.597m found at Bureau de Change to FG

By Innocent Anaba

A Federal High Court sitting in Lagos, yesterday, ordered the final forfeiture of the sum of N449.597million found at an abandoned Bureau de Change shop in Victoria Island, Lagos by the Economic and Financial Crimes Commission, EFCC.

The forfeiture order was sequel to a motion on notice argued by the anti-graft agency before the court.

Trial judge, Justice Rilawan Aikawa ordered that the funds should be forfeited to the Federal Government as no one came forward to claim it.

Judicial symbol

The judge had earlier on April 19 ordered the temporary forfeiture of the money and adjourned till yesterday, for one Mohammed Tauheed, who was joined as respondent in the suit, and any other interested party to appear before him to give reasons  the money should not be finally forfeited to the Federal Government.

Yesterday, EFCC counsel, Idris Mohammed, told the court that the interim order of April 19 had been advertised in the newspaper on May 11, so as to bring the case to the notice of Tauheed and any interested party.

He said that apart from the newspaper publication, Tauheed was also served with the motion on notice.

He urged the court to order the final forfeiture of the money since neither Tauheed nor anyone else came forward to claim it.

Justice Aikawa, in a short ruling, granted the application.


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.