Justice Emeka Nwite of the Federal High Court, Abuja on Wednesday, October 16, 2024 ordered the final forfeiture of the sum of N2, 739,836,331.31(Two Billion, Seven Hundred and Thirty-nine Million, Eight Hundred and Thirty-six Thousand, Three Hundred and Thirty-one Naira, Thirty-one Kobo), being proceeds of suspected illegal mining of solid minerals in Endo Community, Nasarawa State.
The Judge gave the order following an application filed by the Economic and Financial Crimes Commission (EFCC) through its counsel, Ekele Iheanacho, SAN, dated September 27, 2024, asking for the final forfeiture of the sum to the federal government, pursuant to Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 of 2006, having reasonably suspected it to be proceeds of unlawful activities.
The court had on July 8, 2024 granted an interim forfeiture order on the sum to the federal government which was published in The Punch Newspaper of August 8, 2024 as required by law to enable anyone with legitimate claim of ownership of the money to show forth.
At Wednesday’s proceedings, Ibrahim Idris, SAN, counsel to the first and second defendant, Lideal Mines Ltd and Etong Agrotech Nigeria Ltd. respectively, informed the court of his withdrawal of the application, on behalf of his clients, challenging the final forfeiture of the sum – which the prosecution welcomed with no objection.
The forfeited funds are in four bank accounts, all belonging to the two defendants. One Hundred and Two Million, Eight Hundred and Thirty-five Thousand, Four Hundred and Sixty Naira, Eighty-five Kobo (N102,835,460.85), was domiciled in a Zenith Bank account belonging to Lideal Mines Ltd, while N1,288,265,692.11(One Billion, Two Hundred and Eighty-eight Million, Two Hundred and Sixty-five Thousand, Six Hundred and Ninety-two Naira, Eleven Kobo), domiciled in another Zenith Bank account. N1,187,909,426.70 (One Billion, One Hundred and Eighty-seven Million, Nine Hundred and Nine Thousand, Four Hundred and Twenty-six Naira, Seventy Kobo) domiciled in UBA and N160,825,751.70 (One Hundred and Sixty Million, Eight Hundred and Twenty-five Thousand, Seven Hundred and Fifty-one Naira, Seventy Kobo) domiciled in Globus Bank accounts, respectively belong to Etong Agrotech Nigeria Limited.
Justice Nwite adjourned the matter till October 23, 2024 for hearing of application for the final forfeiture of other sums linked to the three defendants.
