Court Orders Temporary Forfeiture Of Funds Recovered In Ikoyi
A Federal High Court in Lagos has ordered the temporary forfeiture of the funds recovered by the Economic and Financial Crimes Commission (EFCC) from an apartment in the Ikoyi area of Lagos State.
In his ruling on Thursday, Justice Muslim Hassan ordered that the 43 million dollars, 23 million Naira and 27,000 pounds be temporarily forfeited to the Federal Government of Nigeria.
The judge gave till May 5, 2017 for any interested party in the funds to show cause why the money should not be permanently forfeited to the Federal Government.
The funds were recovered on Wednesday, following a whistle-blower’s confidential alert received by the Lagos Office of the anti-graft agency regarding some suspicious movement of bags in and out of the apartment.
The discovery came days after the EFCC announced the recovery of 547,730 euros; 21,090 dollars and 5,648,500 Naira from a Bureau de Change operator in Balogun Market, Lagos.