Audiomack Promotion

Former NDDC MD forfeits N250m to FG

0
(0)

Former NDDC MD forfeits N250m to FG

Drama in Osun court as lawyers flee as accused coughs

A former Managing Director of the Niger Delta Development Commission, NDDC, has forfeited a sum of N250,000,000 to the Federal Government.

Justice R.M Aikawa of the Federal High Court sitting in Lagos, recently granted the final forfeiture of the money, based on an application for final forfeiture of the fund by the Lagos zonal office of the Economic and Financial Crimes Commission, EFCC.

The EFCC had approached the court, seeking the forfeiture of the fund, arguing that it was traced, recovered and reasonably suspected to be part of proceeds of unlawful activities.

Subsequently, investigation by the Commission revealed that a contractor with the NDDC, received funds for a purported contract and transferred N250 million, suspected as kickbacks, to a real estate company, for the acquisition of a property in favour of the former MD of the NDDC.

The EFCC, armed with enough facts and figures involved in the transaction, approached the court for the forfeiture of the money to the government.

Justice Aikawa granted the order of final forfeiture accordingly.

The post Former NDDC MD forfeits N250m to FG appeared first on Within Nigeria.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.


About Author
Aminat Aigbe
Aminat Aigbe is the first lady of afronaija and a very good blogger ( Original Mrs AfroNaija )

Be the first to comment

Leave a Reply

Your email address will not be published.