Businessman to Forfeit N616.7m by Court Order Over Fraud Allegation
A motion ex-parte was granted against one Mr. Matthew Edeubie, owner of Flank Power Resources Limited, by Justice Chinawaeze John Aneke of the Federal High Court, Ikoyi, Lagos, to forfeit the sum of N616.7 million to the Federal Government of Nigeria.
The application seeking an order of interim forfeiture of N616.7 million discovered in a bank account belonging to Mr Edeubie, was brought by the Economic and Financial Crimes Commission (EFCC).
According to the Commission, the funds to be forfeited which were reasonably suspected to be proceeds of unlawful activity, emanated from Zenith Bank in bank drafts dated the 11th and 19th of February, 2020.
EFCC counsel, Rotimi Oyedepo, told the Honourable Court that the application was brought under Section 17 of the Advance Fee Fraud and Other Related 2ͿHQFHV $FW 1R which highlights the court has the statutory powers to grant the reliefs being sought, having stated that the monies sought to be forfeited are reasonably suspected to the proceeds of unlawful activities taken from the Federal Governmsnt.
He further urged the court to grant an order directing the publication in any National Newspaper, the interim order under relief, for the Respondent or anyone who is interested in the funds sought to be forfeited to appear before the court to show FDXVH ZLWKLQ GD\V DQG ZK\ D ÀQDO RUGHU RI IRUIHLWXUH should not be made in favour of the Federal Government.
However, as contained in DQ DGDYLW RI XUJHQF\ VZRUQ E\ DQ LQYHVWLJDWLQJ RFHU of the EFCC, Chidi Nweke, "an intelligence report was received by the EFCC against one Mr. Mathew Edeubie of Flank Power Resources Limited.
"That the Agency traced some of the funds to the Zenith Bank account of Flank Power Resources Limited, containing funds sought to be forfeited to the Federal Government.
"That if this application is not heard and determined expeditiously, the funds housed in the said bank account sought to be temporarily forfeited, will be dissipated".
Justice Aneke hereby granted the application made by the Commission, and adjourned the matter to June 29th, 2020, for mention.