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Lagos Federal High Court Orders Former NDDC Managing Director To Forfeit N250 To Federal Government

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A Federal High Court in Lagos has ordered former Managing Director of the Niger Delta Development Commission to forfeit the sum of N250m to the Nigerian Government.

The Economic and Financial Crimes Commission in a statement, said Justice R.M Aikawa gave the order, but name of the former MD and contractor was not mentioned. However Joined as respondents are Diamond Head Ventures and Dev. Company Ltd.

 

The EFCC said the order followed an application for final forfeiture of the fund by the Lagos Zonal Office of the agency after it found out that the fund was suspected to be proceeds of unlawful activity.

The commission also said the contractor with the NDDC received the funds for a purported contract and transferred N250m suspected as kickbacks to a real estate company for the acquisition of a property in favour of the former MD of the NDDC.

In granting the interim forfeiture order, the judge directed interested parties to show cause why the money should not be permanently forfeited to the government.

The NDDC had in the past few months been enmeshed in alleged financial recklessness.

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