Court orders interim forfeiture of firm’s N2.7bn

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Court

Justice Tijani Ringim of the Federal High Court sitting in Ikoyi, Lagos has ordered the interim forfeiture of the sum of N2,700,000,000 (Two Billion, Seven Hundred Thousand Naira) recovered from the account of Spiralfoss Limited.

Justice Ringim gave the order, following an ex parte application filed by the Economic and Financial Crimes Commission, EFCC.

Moving the application on Friday, September 10, 2021, the prosecution counsel, Chinenye Okezie, told the Court that the money was domiciled in Fidelity Bank Plc account number 5080102755.

Okezie also sought the forfeiture of a black bulletproof Audi Model ABL W12 Quatro with registration number BDG529GJ traced to Spiralfoss Limited.

Deal of the day

The prosecution counsel urged the court to order the interim forfeiture of the fund and vehicle to the Federal Government.

Consequently, Justice Ringim granted the application and ordered the interim forfeiture of the money and vehicle. He also directed the publication of the Order in any national newspaper for interested parties to appear before the Court within 14 days, to show cause why the final order of forfeiture should not be made in favour of the Federal Government.