The Federal High Court in Lagos on Tuesday ordered that the sums of N1,250,000,000; $327,132.35, £167.85 and €157.90 recovered by the Economic and Financial Crimes Commission should be permanently forfeited to the Federal Government.

The permanent forfeiture order followed 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.

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

Justice Obiozor had in August made a temporary forfeiture order in respect of the funds.

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.


https://punchng.com/efcc-gets-fresh-forfeiture-order-on-n1-2bn-327132-35-167-85-e157-90/

Modphase:
Imagine billions of naira forfeited just like that. It will never be well with PDP.

Amen

Yet the government of the day will still borrow to service debt or reloot the recovered loot.

Forfeitures galore. Yet we can't fund new minimum wage or critical infrastructure. Nanzenz!!

That's what happen when you cannot explain how you got it. Lol. If only @EFCC can do this across board, then we will give them accolades. There remain insecticide to the opposition and preservative to the ruling party. What do you expect when the chairman of a body like EFCC is an appointee of the executive? Independence murdered right from the foundation!

Modphase:
Imagine billions of naira forfeited just like that. It will never be well with PDP.

And where was it mentioned in the report that It's from the PDP? You can do better.

We will keep hearing different figure until after election foolish govt

See money.
This money fit make person DANCE and DIE (DaD)

Modphase:
Imagine billions of naira forfeited just like that. It will never be well with PDP.

seriously Apc not perfoming to expectations but we don't need Pdp again.. If we want new Nigeria we need to think of new and fresh ideas people

Chaii....See money of one person

Shortly after, the loots will be looted. Hope the loots will not be used to finance the forthcoming elections. These politicians aren't loyal!

Rochas have mould this one.

Atleast now the federal Government wont say dir is no money to give ASUU now. Money don land

Who cares!
We can only be seeing figures on paper and the media but no impact on the populace meanwhile government scammed NLC on Minimum wage.
If you can't pay the 18000 minimum wage, is 30000 you can pay? I dislike such news headline

I pray the money would be put in good use; economy-boost, infrastructural devt, education!

Modphase:
The Federal High Court in Lagos on Tuesday ordered that the sums of N1,250,000,000; $327,132.35, £167.85 and €157.90 recovered by the Economic and Financial Crimes Commission should be permanently forfeited to the Federal Government.

The permanent forfeiture order followed 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.

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

Justice Obiozor had in August made a temporary forfeiture order in respect of the funds.

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.


https://punchng.com/efcc-gets-fresh-forfeiture-order-on-n1-2bn-327132-35-167-85-e157-90/

Forfeiture order without a hot legal battle, that one na forfeiture order.?

Quite clearly we know now more than ever before who are the thieves amongst us. We know who owned SGBN of yore and owns Heritage Bank. This is quite mind boggling! The strange thing is they have no modicum of shame and still go about presiding and pontificating over our affairs. The French Revolution will encore here shortly and someday if they do not change for the better.

Counsel for the EFCC, Mr Iheanacho Ekene, told Justice Chuka Obiozor that, “The persons in whose possession the funds were found are not laying claim to them and surrendered them for forfeiture.”
Justice Obiozor had in August made a temporary forfeiture order in respect of the funds

If d funds were found in an account dat means it belonged to d account holder abi, so how come it was found in possession of some persons?
I don't understand how a person is found in possession of funds but not laying claim to d funds. Anyways make dem sha collect d money

Modphase:


Read the full article on Punch the legal battle is done n dusted no PDP member came forward to claim the money. I know very well APC will not steal only to help forfeit it loot.

I jus read d full post again and I am yet to see where PDP was mentioned anywhere... Some of U have taken to lying for a living

The thunder that will strike PDP is been polish by amadioha...

Racoon:
And where was it mentioned in the report that It's from the PDP? You can do better.

Amumaigwe:


Forfeiture order without a hot legal battle, that one na forfeiture order.?

Read the full article on Punch the legal battle is done n dusted no PDP member came forward to claim the money. I know very well APC will not steal only to help forfeit it loot.

Good development.
#Takethemback

Modphase:
The Federal High Court in Lagos on Tuesday ordered that the sums of N1,250,000,000; $327,132.35, £167.85 and €157.90 recovered by the Economic and Financial Crimes Commission should be permanently forfeited to the Federal Government.

The permanent forfeiture order followed 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.

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

Justice Obiozor had in August made a temporary forfeiture order in respect of the funds.

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.


https://punchng.com/efcc-gets-fresh-forfeiture-order-on-n1-2bn-327132-35-167-85-e157-90/

Height of buffoonery. EFCC recovers money from fake people at fake location and goes to court to order permanent forfeiture . What an arranged and badly written drama played for political gain .
I mentioned just last week they will soon dig Diezani's matter up again to wake up their army of zombies. See what has happened.

That headline smells Saraki. I can see his hands on the forfeited money. If u know u know.

That's good, they're surely proceeds of corruption.

Three years ago Buhari didn't use 25 years old pension to campaign but today he is paying them in folds...

Three years ago Buhari didn't use railway construction to campaign but today he is constructing them

Three years ago Buhari didn't use Building of affordable houses for citizens to campaign but today he is building them houses

Three years ago Buhari didn't use bailing out states to campaign but today he is bailing states out

Three years ago Buhari didn't tell us he will work on Mambilla Power Plant but today he is working on it

Three years ago Buhari didn't use Niger Bridge to Campaign But today he is constructing it

Three years ago Buhari didn't tell us he won't interfere with the affairs of the senate and judiciary but today their affairs is none of his business

Three years ago Buhari didn't use rice revolution to campaign but today he has made us to believe in our 'Oh God Rice'

Three years ago Buhari didn't use devolution of power to his vice to campaign but today he has shown the world how useful a vice could be

Three years ago Buhari didn't use the implementation of TSA to campaign but today he has implemented it

Three years ago Buhari didn't use Yuan swap deal to campaign but today he has eased the stress of Nigerians doing business in china

Three years ago Buhari didn't campaign that he will chase 50 000 ghost workers away but today he is saving billions of naira for chasing ghost workers outta system

Three years ago Buhari didn't campaign with Npower, TraderMoni, Primary school feeding, Loan without interest, conditional cash transfer and so but today he is so magnanimous to the masses
Ex Nitel workers, Ex Biafran soldiers, Nigeria Airways all been paid.

Three years ago Buhari didn't campaign to solve Fulani herdsmen / farmer clashes but today, he solve as it occurred.

You see failure of his promises in three years but I see successes in his three years in office. Buhari is the best President Nigeria has ever seen... Ever!!! We need continuity. Buhari Osinbajo 2019. Please Share these facts.

PDP looting never again, as for people who don't know how debt works, and why successful nations rely heavily on borrowing. Loan is a part of developmental tool provided by the money market since a country can't generate all its required revenues in one day or few months. Without borrowing Nigeria might continue having abandoned projects everywhere like the PDP days

laurel03:
seriously Apc not perfoming to expectations but will don't need Pdp again.. If will want new Nigeria we need to think of new and fresh ideas people

Do you realy think APC are ruling ? Last time we checked . The people responsible for making our laws is PDP cos they are now majority in the house . So think again is APC ruling ?

D

[quote author=Zansu007 post=72950517]We will keep hearing different figure until after election foolish govt ......


Yet all the people behind this looting of public fund arr either christians or moslems .
I wonder if its christianity or islsm that encoursges stealing of public funds .

iammo:
PDP looting never again, as for people who don't know how debt works, and why successful nations rely heavily on borrowing. Loan is a part of developmental tool provided by the money market since a country can't generate all its required revenues in one day or few months. Without borrowing Nigeria might continue having abandoned projects everywhere like the PDP days

Blind bat.
Loans abroad are secured against projects . Or research . They form bonds . Where a loan cannot be secured they cut cost or raise taxes . A loan is only taken when there is a verified means of repayment..those states in the US that got it wrong went bankrupt . Nigeria FG borrow to steal .