The Federal High Court in Lagos has ordered the final forfeiture of the sums of N1,250,000,000; $327,132.35, £167.85 and €157.91 recovered by the Economic and Financial Crimes Commission (EFCC) to the Federal Government.

Justice Chuka Obiozor gave the order on Tuesday, following a suit filed by the EFCC against Heritage Bank Plc and Secure Electronics Technology Limited.

The anti-graft agency said the funds were reasonably suspected to be proceeds of unlawful activities.

Iheanacho Ekene, Counsel for the EFCC, told Justice Obiozor that “The persons in whose possession the funds were found are not laying claim to them and surrendered them for forfeiture.”

In August, Justice Obiozor had made a temporary forfeiture order in respect of the funds. He ordered the EFCC to publish the interim order in the newspapers for anyone interested in the money to show up in court to prove why it should not be permanently forfeited to the Federal Government.

On Tuesday, Iheanacho told the judge that the publication order had been complied with, adding that no one had shown up to lay claim to the money. He urged the judge to order that the funds be permanently forfeited to the Federal Government.

As there was no opposing application, Justice Obiozor ordered the sums of N1.2bn, $327,132.35, £167.85 and €157.90 permanently forfeited to the Federal Government.

In a supporting affidavit to the forfeiture application, a female investigator with the EFCC, Oghare Ogbole, had averred that the funds were discovered following an intelligence report received by the anti-graft agency.

She added that, “Heritage Bank did not provide any legitimate explanation for the above transactions (involving the sums) and consequently returned the said money through 16 separate bank drafts issued in favour of the EFCC Recovered Funds Account.

“Attached and marked as exhibits EFCC 7A to 7F are the bank drafts representing the refund of the sums of N157,000,000,000 by Heritage Bank Plc, on the sums of $327,132.35, £167.85 and €157.90," she said.

http://saharareporters.com/2018/11/14/court-orders-heritage-bank-forfeit-unclaimed-n157bn-recovered-efcc-fg?fbclid=IwAR1dVf0xhmTK8uoyq2npUMKRv-rm3OyJCi2p6jEWHgCN9oqko3IHh9W7Hjk

Oam4j, mynd44

My party really wrecked Nigeria.

Imagine 157b which a whole bank could not explain its source and which the owner was willing to forfeit rather than claim.

The levels of looting that went on in Nigeria is beyond imagining.

PDP is cursed!

No wonder they are raising alarm that the FG is planning to liquidate monies in their accounts.

This must be one of such monies. Illegally acquired wealth. Lootocrats in chief.

PDP, looting. 157 billion naira election campaign and rigging money is gone back to FG. Thank God for Buhari.

Please who owns heritage bank?

No be Saraki?

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Officialpdpnig:
Please who owns heritage bank?

Bukola Saraki. Current Heritage bank is a consolidation of the old Societe Generale Banke owned and ran down by the Saraki family. When Saraki was still in PDP before straying to APC and returning to his looting friends, the PDP government handed the defunct and liquidated Societe Generale Banke back to Saraki. Sarah recruited his South-South criminal friends to run the bank. Now he is using it purely for money laundering.

Don't just believe me, ask Google.

Zombie tales.... move N157BN from any Nigerian bank and watch it ground.. heritage has N157BN liquid and the bank is not at top 3.


Don't the owner of the account have name, cant BVN expose the owner?

Forget these media propagandas and publish the names, its for the benefit of Nigeria if its true since their is an alleged court verdict

Find attached, profit declaration of wema bank now compared to moving N157bn from a newer bank with less spread

efighter:


Saraki

No wonder they have been crying and making noise about the FG attempting to bankrupt them.

157b unclaimed money even after repeated invitations for the owner/owners to come and lay claim to it.

Thunder from heaven should roast PDP. Isee isee isee

GavelSlam:
For real?

For real

Magalan:
Zombie tales.... move N157BN from any Nigerian bank and watch it ground.. heritage has N157BN and the bank is not at top 3.


Don't the owner of the scount have name, cant BVN expose the owner?

Forget these media propagandas and publish the names, its for the benefit of Nigeria if its true.

Find attached, profit declaration of wema bank.

Sarathief owned Heritage bank is in focus and you are talking about wema bank.

You are busy with profit instead of talking more sensibly by focusing on base capital.

Stop talking like someone who is unable to understand the simplest things

Officialpdpnig:


Sarathief owned Heritage bank is in focus and you are talking about wema bank.

You are busy with profit instead of talking more sensibly by focusing on base capital.

Stop talking like someone who is unable to understand the simplest things

ARE YOU AWARE INTERCONTINENTAL BANK WAS BOUGHT FOR LESS THAN THAT BY AMCON?

If you had an iota of comprehension, you would know that i was trying to illustrate sample profit from wema bank and propaganda of moving N157bn from a Nigerian bank while a CBN threshold for banks is just N25bn

Moreover what is the name of the beneficiary? BVN is as simple as two clicks away...

You should have just said the lies and propaganda/ campaign of calumny is targeted at Saraki.