The Federal High Court in Ikoyi, Lagos, has ordered the final forfeiture of $20,000 and CFA 110,000 to the federal government.
Justice Dehinde Dipeolu delivered the ruling regarding the forfeiture of the illicitly acquired funds.
This was disclosed by the Economic and Financial Crimes Commission (EFCC) on its official X (formerly Twitter) handle.
Read also:
Federal High Court rules magistrate courts lack jurisdiction to freeze bank accounts
Ecobank to appeal Honeywell’s purported N72 billion court judgment
Breaking: Court slams Daily Sun N5.5m damages for photograph copyright infringement
The funds were intercepted by vigilant operatives of the Nigerian Customs Service at the Seme Border in Lagos State.
The customs acted swiftly upon suspicions that the amounts were connected to illegal activities, prompting the seizure and subsequent handover of the funds to the EFCC for further investigation.
The EFCC, thereafter, pursued a motion on notice filed by its Lagos Zonal Directorate 1.
The case was aptly represented by the agency’s counsel, H.U. Kofarnaisa, who presented evidence and arguments to substantiate the need for forfeiture.
Justice Dipeolu’s ruling emphasizes the legal framework aimed at combating financial crime in Nigeria, reflecting the government’s commitment to upholding financial integrity and pursuing those suspected of economic malfeasance.
The ruling serves as a critical reminder of the ongoing efforts by the federal government to curb money laundering and related offenses, ensuring that such proceeds are reclaimed for the public good.
