A Federal High Court in Abuja has ordered the final forfeiture of $7 million stashed in the vault of a Providus Bank branch in the Ikoyi area of Lagos.
The money was found in the account of the MD of an oil and gas company owned by a prominent society woman — who is currently being prosecuted by the Economic and Financial Crimes Commission (EFCC).
Emeka Nwite, the presiding judge, on Monday, issued the order following a final forfeiture application moved by Rotimi Oyedepo, EFCC counsel.
According to the anti-graft agency, the interim order for the forfeiture of the sum was issued on August 27.
BACKGROUND
When the case was called last Friday, Gbenga Akande, a lawyer, announced appearance for an interested party.
Akande refused to disclose the name of his client despite insistence by Oyedepo and the court.
Akande told the court that when he filed an affidavit on why the EFCC counsel should know the name of the interested party, the presiding judge ordered Oyedepo to serve Akande with copies of the documents and adjourned hearing to September 15.
During the resumption of hearing on Monday, Akande was not present in court.
However, Darlington Ozurumba, another lawyer, appeared in court for an interested party.
Subsequently Oyedepo moved the application for final forfeiture of the money to the federal government since no party had shown interest in the matter.
“The party showing interest at the last adjourned date was represented by Gbenga Femi Akande, Esq,” he said.
The judge asked Ozurumba for his submission on the final forfeiture application.
Ozurumba said he was not opposing the application.
Afterwards, Nwite ruled that the EFCC application was meritorious and ordered the final forfeiture of the sum to the federal government.
THE AFFIDAVIT
The affidavit in support of the ex-parte application was deposed by Emmanuel Okeibunor, an EFCC investigator.
Okeibunor said the agency received a credible report alleging that $7 million was, in suspicious circumstances, conveyed to and kept in the Providus Bank branch.
The investigator said the report was assigned to his team to analyse and — if found credible — proceed on investigation.
Okeibunor said investigation revealed that the sum was not credited to any known customers’ account, but rather surreptitiously kept in the bank’s vault.
The investigator said some of the bank staff interviewed had alleged that the money was brought to the bank for and on behalf of the managing director, Oceangate Engineering Oil and Gas Limited.
“My team interviewed the managing director of Oceangate Engineering Oil and Gas Limited, in respect of the seven million dollars, who insisted that she did not take any money to Providus Bank,” Okeibunor said.
“My team was equally informed by the managing director of Oceangate Engineering Oil and Gas Limited that she took a loan of seven million dollars from Providus Bank Limited, which she is yet to pay back to the bank.
“That Providus Bank Limited did not file a suspicious transaction report (STR) to the Nigerian Financial Intelligence Unit (NFIU) in respect of this transaction.
“That the funds sought to be forfeited are reasonably suspected to be proceeds of unlawful activity, as they did not represent known, provable, and legitimate income of either Oceangate Engineering Oil and Gas Limited, the couriers, or officials of Providus Bank Limited.
“The funds sought to be forfeited are also reasonably suspected to have been abandoned, as nobody came forward to claim the funds from the Providus Bank Limited or the commission that recovered the same.”
©TheCable
A Federal High Court in Abuja has ordered the final forfeiture of $7 million stashed in the vault of a Providus Bank branch in the Ikoyi area of Lagos.
The money was found in the account of the MD of an oil and gas company owned by a prominent society woman — who is currently being prosecuted by the Economic and Financial Crimes Commission (EFCC).
Emeka Nwite, the presiding judge, on Monday, issued the order following a final forfeiture application moved by Rotimi Oyedepo, EFCC counsel.
According to the anti-graft agency, the interim order for the forfeiture of the sum was issued on August 27.
BACKGROUND
When the case was called last Friday, Gbenga Akande, a lawyer, announced appearance for an interested party.
Akande refused to disclose the name of his client despite insistence by Oyedepo and the court.
Akande told the court that when he filed an affidavit on why the EFCC counsel should know the name of the interested party, the presiding judge ordered Oyedepo to serve Akande with copies of the documents and adjourned hearing to September 15.
During the resumption of hearing on Monday, Akande was not present in court.
However, Darlington Ozurumba, another lawyer, appeared in court for an interested party.
Subsequently Oyedepo moved the application for final forfeiture of the money to the federal government since no party had shown interest in the matter.
“The party showing interest at the last adjourned date was represented by Gbenga Femi Akande, Esq,” he said.
The judge asked Ozurumba for his submission on the final forfeiture application.
Ozurumba said he was not opposing the application.
Afterwards, Nwite ruled that the EFCC application was meritorious and ordered the final forfeiture of the sum to the federal government.
THE AFFIDAVIT
The affidavit in support of the ex-parte application was deposed by Emmanuel Okeibunor, an EFCC investigator.
Okeibunor said the agency received a credible report alleging that $7 million was, in suspicious circumstances, conveyed to and kept in the Providus Bank branch.
The investigator said the report was assigned to his team to analyse and — if found credible — proceed on investigation.
Okeibunor said investigation revealed that the sum was not credited to any known customers’ account, but rather surreptitiously kept in the bank’s vault.
The investigator said some of the bank staff interviewed had alleged that the money was brought to the bank for and on behalf of the managing director, Oceangate Engineering Oil and Gas Limited.
“My team interviewed the managing director of Oceangate Engineering Oil and Gas Limited, in respect of the seven million dollars, who insisted that she did not take any money to Providus Bank,” Okeibunor said.
“My team was equally informed by the managing director of Oceangate Engineering Oil and Gas Limited that she took a loan of seven million dollars from Providus Bank Limited, which she is yet to pay back to the bank.
“That Providus Bank Limited did not file a suspicious transaction report (STR) to the Nigerian Financial Intelligence Unit (NFIU) in respect of this transaction.
“That the funds sought to be forfeited are reasonably suspected to be proceeds of unlawful activity, as they did not represent known, provable, and legitimate income of either Oceangate Engineering Oil and Gas Limited, the couriers, or officials of Providus Bank Limited.
“The funds sought to be forfeited are also reasonably suspected to have been abandoned, as nobody came forward to claim the funds from the Providus Bank Limited or the commission that recovered the same.”
©TheCable
A Federal High Court in Abuja has ordered the final forfeiture of $7 million stashed in the vault of a Providus Bank branch in the Ikoyi area of Lagos.
The money was found in the account of the MD of an oil and gas company owned by a prominent society woman — who is currently being prosecuted by the Economic and Financial Crimes Commission (EFCC).
Emeka Nwite, the presiding judge, on Monday, issued the order following a final forfeiture application moved by Rotimi Oyedepo, EFCC counsel.
According to the anti-graft agency, the interim order for the forfeiture of the sum was issued on August 27.
BACKGROUND
When the case was called last Friday, Gbenga Akande, a lawyer, announced appearance for an interested party.
Akande refused to disclose the name of his client despite insistence by Oyedepo and the court.
Akande told the court that when he filed an affidavit on why the EFCC counsel should know the name of the interested party, the presiding judge ordered Oyedepo to serve Akande with copies of the documents and adjourned hearing to September 15.
During the resumption of hearing on Monday, Akande was not present in court.
However, Darlington Ozurumba, another lawyer, appeared in court for an interested party.
Subsequently Oyedepo moved the application for final forfeiture of the money to the federal government since no party had shown interest in the matter.
“The party showing interest at the last adjourned date was represented by Gbenga Femi Akande, Esq,” he said.
The judge asked Ozurumba for his submission on the final forfeiture application.
Ozurumba said he was not opposing the application.
Afterwards, Nwite ruled that the EFCC application was meritorious and ordered the final forfeiture of the sum to the federal government.
THE AFFIDAVIT
The affidavit in support of the ex-parte application was deposed by Emmanuel Okeibunor, an EFCC investigator.
Okeibunor said the agency received a credible report alleging that $7 million was, in suspicious circumstances, conveyed to and kept in the Providus Bank branch.
The investigator said the report was assigned to his team to analyse and — if found credible — proceed on investigation.
Okeibunor said investigation revealed that the sum was not credited to any known customers’ account, but rather surreptitiously kept in the bank’s vault.
The investigator said some of the bank staff interviewed had alleged that the money was brought to the bank for and on behalf of the managing director, Oceangate Engineering Oil and Gas Limited.
“My team interviewed the managing director of Oceangate Engineering Oil and Gas Limited, in respect of the seven million dollars, who insisted that she did not take any money to Providus Bank,” Okeibunor said.
“My team was equally informed by the managing director of Oceangate Engineering Oil and Gas Limited that she took a loan of seven million dollars from Providus Bank Limited, which she is yet to pay back to the bank.
“That Providus Bank Limited did not file a suspicious transaction report (STR) to the Nigerian Financial Intelligence Unit (NFIU) in respect of this transaction.
“That the funds sought to be forfeited are reasonably suspected to be proceeds of unlawful activity, as they did not represent known, provable, and legitimate income of either Oceangate Engineering Oil and Gas Limited, the couriers, or officials of Providus Bank Limited.
“The funds sought to be forfeited are also reasonably suspected to have been abandoned, as nobody came forward to claim the funds from the Providus Bank Limited or the commission that recovered the same.”
©TheCable
A Federal High Court in Abuja has ordered the final forfeiture of $7 million stashed in the vault of a Providus Bank branch in the Ikoyi area of Lagos.
The money was found in the account of the MD of an oil and gas company owned by a prominent society woman — who is currently being prosecuted by the Economic and Financial Crimes Commission (EFCC).
Emeka Nwite, the presiding judge, on Monday, issued the order following a final forfeiture application moved by Rotimi Oyedepo, EFCC counsel.
According to the anti-graft agency, the interim order for the forfeiture of the sum was issued on August 27.
BACKGROUND
When the case was called last Friday, Gbenga Akande, a lawyer, announced appearance for an interested party.
Akande refused to disclose the name of his client despite insistence by Oyedepo and the court.
Akande told the court that when he filed an affidavit on why the EFCC counsel should know the name of the interested party, the presiding judge ordered Oyedepo to serve Akande with copies of the documents and adjourned hearing to September 15.
During the resumption of hearing on Monday, Akande was not present in court.
However, Darlington Ozurumba, another lawyer, appeared in court for an interested party.
Subsequently Oyedepo moved the application for final forfeiture of the money to the federal government since no party had shown interest in the matter.
“The party showing interest at the last adjourned date was represented by Gbenga Femi Akande, Esq,” he said.
The judge asked Ozurumba for his submission on the final forfeiture application.
Ozurumba said he was not opposing the application.
Afterwards, Nwite ruled that the EFCC application was meritorious and ordered the final forfeiture of the sum to the federal government.
THE AFFIDAVIT
The affidavit in support of the ex-parte application was deposed by Emmanuel Okeibunor, an EFCC investigator.
Okeibunor said the agency received a credible report alleging that $7 million was, in suspicious circumstances, conveyed to and kept in the Providus Bank branch.
The investigator said the report was assigned to his team to analyse and — if found credible — proceed on investigation.
Okeibunor said investigation revealed that the sum was not credited to any known customers’ account, but rather surreptitiously kept in the bank’s vault.
The investigator said some of the bank staff interviewed had alleged that the money was brought to the bank for and on behalf of the managing director, Oceangate Engineering Oil and Gas Limited.
“My team interviewed the managing director of Oceangate Engineering Oil and Gas Limited, in respect of the seven million dollars, who insisted that she did not take any money to Providus Bank,” Okeibunor said.
“My team was equally informed by the managing director of Oceangate Engineering Oil and Gas Limited that she took a loan of seven million dollars from Providus Bank Limited, which she is yet to pay back to the bank.
“That Providus Bank Limited did not file a suspicious transaction report (STR) to the Nigerian Financial Intelligence Unit (NFIU) in respect of this transaction.
“That the funds sought to be forfeited are reasonably suspected to be proceeds of unlawful activity, as they did not represent known, provable, and legitimate income of either Oceangate Engineering Oil and Gas Limited, the couriers, or officials of Providus Bank Limited.
“The funds sought to be forfeited are also reasonably suspected to have been abandoned, as nobody came forward to claim the funds from the Providus Bank Limited or the commission that recovered the same.”
©TheCable
