₦airaland Forum

•EFCC: he failed to justify ownership

A FORMER Director of Navy Accounts, Rear Admiral Tahir Yusuf, has permanently forfeited about N500 million to the Federal Government.

Rear Admiral Yusuf, who was second-in-command to the Chief of Account and Budget, Naval Headquarters (NHQ),, according to the Economic and Financial Crimes Commission (EFCC), held the cash in seven accounts with two banks.

Five of the accounts, the EFCC said in court documents, were kept in the name of a company – Bitmas Enterprises – while the other two accounts were held in Yusuf’s name in another bank.

The total amount Yusuf forfeited to the Federal Government as a result of an order of permanent forfeiture issued on February 20, 2020 by Justice Ijeoma Ojukwu of the Federal High Court, Abuja, is N392,695,857.87; $91,955.38; £15,050.
Justice Ojukwu made the order of permanent forfeiture while ruling on an application to that effect filed by the EFCC.

The court disregarded claim by Yusuf, who was saddled with verifying and authenticating of documents before payments and keep custody of Nigeria Navy balance, that he made the money through legitimate means.

The court had, on October 26, 2018, in a ruling on an application by the EFCC, granted an order for interim forfeiture of the money and ordered the anti-graft agency to publish the order in a national daily for any interested party to claim the money.

It was in reaction to the advertisement that Yusuf filed a counter-affidavit, claiming ownership of the money and arguing that the funds were from legitimate sources.

In response, the EFCC faulted Yusuf’s claim and disclosed that the ex-Naval chief was investigated with two others – Rear Admiral Babajide Oguntola and Commander Bello Mohammed – “all of the Nigerian Navy in an alleged case of conspiracy, abuse of office and money laundering”.

The EFCC said, in the course of investigation, it found the seven accounts (corporate and personal) linked to Yusuf, with the following details: In Zenith Bank accounts 1011701670 (N32,268,758.50); 9000617386 (N320,132,530.57); 1011904172 (N2,414,034.39); 5360132431 ($34,875.00); 5060017083 (£15,050.00) – all held in the name of Bitmas Enterprises.

Two other accounts – 2120012772 ($57,080.38) and 1060100885 (N2,390,987.69) – were held in Skye Bank in Yusuf’s name.

Court documents also revealed that Yusuf had made a proposal for plea bargain to the EFCC, in which he allegedly volunteered to forfeit N200 million, which the EFCC rejected.

https://thenationonlineng.net/ex-naval-director-forfeits-n500m-to-fed-govt/

Good one.

and Federal govt. Will then forfeit the money to Abba Kyari the presidency Godfather (GF)

And the money will go back to re-jihad-ilitate the captured jihadists ....






Shithole

The said sum will in turn be forfeited to a few pockets by the FG

He entered a plea bargain with the FG to forfeit the sum of ₦200million which the EFCC rejected.


This is a welcome development. But my premonition tells me this culprit has some cash stashed elsewhere, maybe at home.

And this would be the last thing we would hear bout the money .. Ole ni everybody Yahoo ni babalawo.. (Naira Marley 2019)

Until Death sentence is the penalty for corruption and looting. Nigerians will not change.

qualityovenbake:
EFCC should set an example of him, It shouldn't only end in forfeiture, he should be arrested and charge to court.

HE SHOULD BE TRIED AND JAILED

Also I think it will be beneficial to cultivate a culture where people with extreme wealth are not at all adored but regarded with suspicion, even disdained, regardless of the purported source of their wealth.

Only one person 500m, naija economy strong sha.

The thievery in this Nigeria is so high. And it's not that the people waiting will do otherwise.

The number of people waiting to steal is greater than the number of people currently stealing.


Until we have a zero tolerance for corruption law, only then Nigeria will change.

E no even reach the money way I spend for Cubana yesterday
E get one stripper way just dey look my chain and watch, I one use 1000 naira notes spoil her nyash with slap.
I carry am go house o na im this morning when I wake up I see her dey wear my $500 Versace shirt dey cook beans...I pursue am immediately

Chicken change

E just dey like say na when I dash all this beggars #50 from my pocket or wallet..

All these money are being forfeited, but the federal government is still broke, and are continuously taking loans

This country is beyond repair.

They Should send it to my account

Where are all this money going. This buhari anti quarruption na real scam

We recover looted funds everyday and majority are still living in abject poverty

And there’s no money in this country

Ok

.

There is more where that came from!

500m? Who we offend?

There is money in Nigeria, do not allow the politicians to deceive you by saying otherwise.

our yam

so whats next for him? does it just end there

go to our prisons you would see guys jailed or awaiting trial for just 2000 naira, here's someone with extra 500 million


9ja politicians na our natural disaster wen we get