The Federal High Court in Ikoyi, Lagos, has ordered the final forfeiture of $20,000 and CFA 110,000 to the Federal Government of Nigeria.
Justice Dehinde Dipeolu delivered the judgment on Wednesday, following a motion on notice filed by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), through its lawyer, H.U. Kofarnaisa.
The monies were intercepted by operatives of the Nigeria Customs Service (NCS) at Seme Border in Lagos State and subsequently handed over to the EFCC for further investigation.
According to the EFCC, the funds were reasonably suspected to be proceeds of unlawful activities.
According to a statement on Wednesday by EFCC’s Spokesman Dele Oyewale, the EFCC’s lawyer, H.U. Kofarnaisa, argued that it was in the interest of justice to finally forfeit the monies to the Federal Government.
Justice Dipeolu, in his ruling, held that the argument had merit and ordered the final forfeiture of the funds.
This development is a continuation of the EFCC’s efforts to combat financial crimes and recover illicit funds in Nigeria.
The EFCC has been working tirelessly to ensure that those who engage in financial malfeasance are brought to justice and that stolen funds are recovered and returned to the public coffers.
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