The Federal High Court in Ikoyi, Lagos State, on Thursday, ordered the final forfeiture of seven landed assets linked to a former staff member of First Bank Nigeria (FBN) to the federal government.
According to a press statement released by the Economic and Financial Crimes Commission (EFCC) on Thursday, the assets comprised a flat and parcels of land mostly in choice estates in Epe and Ibeju-Lekki areas of Lagos State. Only one of the parcels of land is in the Federal Capital Territory (FCT), Abuja.
The properties are suspected by the EFCC to be proceeds from the alleged fraudulent activities of the former bank official, Muiz Adeyinka.
Mr Adeyinka allegedly perpetrated the fraud during his time in the bank’s settlement office.
The EFCC has stated that investigations indicate Mr Adeyinka and his associates received up to N35 billion from the alleged fraud.
The judge, Dehinde Dipeolu, ordered the final forfeiture of the assets on Thursday following a request by the EFCC.
This was preceded by an earlier interim forfeiture order on the assets.
While the interim order was in place, the judge ordered, EFCC should make a national newspaper inviting all parties that might be interested in the assets to appear to show cause why they should not be permanently forfeited to the Nigerian government.
Moving the application for the final forfeiture of the assets on Thursday, EFCC’s lawyer, Zeenat Atiku, told the court that “no one showed cause within the 14 days window granted after the publication.”
Premium Times
