Court Orders Forfeiture Of N1.04bn Abandoned In The Bank

Court Orders Forfeiture Of N1.04bn Abandoned In The Bank

The Economic and Financial Crimes Commission, EFCC, has secured an
interim forfeiture of the sum of fromN1,000,494,000 (One Billion, Four
Hundred and Ninety Four Thousand Naira) only. The order was granted by
Justice Lewis Allagoa of the Federal High Court sitting in Kano.

The forfeiture was as a result of a motion exparte filed by the
Commission seeking for the interim forfeiture of the sum of
N1,000,494,000 (One Billion Four and Ninety Four Thousand Naira) only
found hidden away in the bank account of MAGEL RESORT LIMITED, a company
linked to the former first lady of Nigeria, Patience Jonathan.

The EFCC received an intelligence alleging that a bank account
domiciled in Fidelity Bank, was said to have stored huge sum of money
that is not being used by anybody.

Upon receipt of the intelligence, the Commission swung into action by
conducting preliminary investigation which revealed that the former
first lady and some relatives of the former President, Goodluck Ebele
Jonathan are Directors of the Company.

Others named as directors of the company are Oba Oba Tamunotonye,
Goodluck Jonathan Aruera, Goodluck Jonathan Ariwabai and Esther Fynface.

While tracing the origin of the money, it was discovered that N500,
000 (Five Hundred Thousand Naira) was deposited on the 20th May, 2015 by
Esther Fynface, who is alleged to be in charge of the company while
N1,000,000,000 (One Billion Naira) only was transferred in two tranches
on the 25th May, 2015 from PAGMAT OIL AND GAS NIGERIA LIMITED a company
that is not incorporated with the Corporate Affairs Commission.

The court order reads that: “An interim forfeiture order is granted
to the Federal Government in the sum of N1,000,494,000 (One Billion,
Four Hundred and Ninety Four Thousand Naira) only in the Bank account of
the 1st respondent MAGEL RESORT LIMITED 4011019546 which is maintained
with 2nd respondent Fidelity Bank Plc”.

The court further ordered that the forfeited sum be deposited in the Treasury Single Account of the Federal Government.