Armsgate: Court docket orders Interim forfeiture of N263m linked to late Alex Badeh’s affiliate

Armsgate: Court orders Interim forfeiture of N263m linked to late Alex Badeh

Justice I. E. Ekwo of a Federal Excessive Court docket, Abuja has ordered the interim forfeiture of the sum of N263, 000, 000 (Two Hundred and Sixty Three Million Naira) recovered by the Financial and Monetary Crimes Fee, EFCC, from one of many prosecution witnesses within the N3.9 billion fraud trial of late Alex Badeh.

Late Badeh was a 4 star flag officer of the Nigerian Air pressure who served because the 18th Chief of Air Employees and the 15th Chief of Defence Employees of the Armed Forces of Nigeria.

The EFCC, had by an ex-parte software filed on December three, 2018 prayed the Court docket to grant the interim forfeiture of the mentioned cash, which they consider is proceeds from unlawful transactions linked to the funds meant for buy of arms for the army.

The appliance is topic to the provisions of part 29 (b) of the EFCC Institution Act, 2004.

The Two Hundred and Sixty Three Million Naira had been deposited within the protected custody of the EFCC Restoration Account domiciled with the Central Financial institution of Nigeria, CBN.

In granting the order, on December 18, 2018, Justice Ekwo dominated that “a publication of the discover is to be concurrently made by EFCC in a Nationwide Newspaper and the EFCC web site; inviting all individuals/our bodies who could have curiosity within the mentioned sum to indicate trigger why the ultimate order of forfeiture in respect of the sum of N263, 000, 000 (Two Hundred and Sixty Three Million Naira) shouldn’t be made in favor of the Federal Authorities of Nigeria”.

 

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