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Ex-NDDC chief executive forfeits N250 mln to Fed Govt ~EFCC

By on September 11, 2020 0 142 Views

A Federal High Court sitting in Lagos has granted the final forfeiture of N250 million by a former Managing Director of the Niger Delta Development Commission (NDDC) to the Federal Government.

In a ruling on Friday, Justice R.M Aikawa said the judgment was 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.

In a statement, the anti-graft agency said investigations 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.

However, the anti-graft commission declines to name the former chief executive of the intervention agency as at the time of publications.

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