Court orders interim forfeiture of money recovered from businessman to FG 

Court orders interim forfeiture of money recovered from businessman to FG 

Monday, June 8, 2020 1:14 pm


Akin Kuponiyi 

A Federal High Court sitting in Lagos south west Nigeria today  ordered the interim forfeiture of N827million recovered from a businessman, Matthew Edevbie, to the Federal Government of Nigeria.

The presiding Judge  Chukwujeku Aneke made the order following an ex parte application filed and argued before the court  by the Economic and Financial Crimes Commission (EFCC) legal officer Barrister Rotimi Oyedepo
Justice Aneke also  directed the EFCC to advertise the order in any national daily newspaper 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 Federal Government.

Mr Oyedepo  told the court  that Edevbie owned a firm, named Flank Power Ltd. and the  said  forfeited sums, comprising of N616.7 million and N211 million were deposited in Flank Power Ltd’s bank account 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 contended .

He further told  the judge 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 application was supported by an affidavit of urgency, sworn to by an EFCC Investigating Officer, Mr Chidi Nweke.

Nweke,as one of the operatives of the EFCC assigned to investigate the intelligence report received against Edevbie. averred that the said intelligence report was investigated, the money traced to and recovered from Edevbie who is the owner of Flank Power Resources. Some of these monies traced to the bank account of Flank Power Resources Ltd contain monies sought to be forfeited to the Federal Government.

Justice Aneke has adjourned till 29th of June 2020 for further proceedings.

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