Court orders interim forfeiture of N30.7m linked to alleged NNPC fraud

The Federal High Court in Abuja on Monday granted the Economic and Financial Crimes Commission (EFCC) an interim forfeiture order of N30.7 million, reportedly connected to alleged fraudulent activities involving officials of the Nigerian National Petroleum Company Limited (NNPC).

Justice Emeka Nwite, ruling on an ex-parte application by the EFCC, said the commission had provided sufficient grounds to temporarily forfeit the funds to the Federal Government.

He ordered that the ruling be published in a national newspaper, giving interested parties 14 days to “show cause why the funds should not be permanently forfeited.”

The case was adjourned to January 22 for the EFCC to file a compliance report on the publication.

The EFCC told the court that the funds were discovered during investigations into alleged fraud by high-profile NNPC officials.

The agency said the name of Mr. Adamu Yakubu, a Bureau De Change operator, appeared prominently in banking documents linked to the case.

Yakubu submitted a ledger showing that over N4 billion had been transferred to various individuals and companies on instructions from Mr. Ibrahim Sani, a staff member of the Federal Inland Revenue Service (FIRS).

The balance of N30.7 million, currently in Yakubu’s possession, was said to have been given to him by Sani. Both Yakubu and Sani, however, denied ownership of the funds.

EFCC investigations suggest the money may be “proceeds of unlawful activities,” citing provisions of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, in seeking the forfeiture.

Under Nigerian law, interim forfeiture orders allow authorities to secure suspected criminal proceeds while giving affected parties a chance to contest the matter in court before final forfeiture is confirmed.