In a significant victory for the federal government, Justice Emeka Nwite of the Federal High Court, Abuja, has ordered the final forfeiture of N2.7 billion linked to illegal mining activities in Nasarawa State.
The funds, totaling N2,739,836,331.31, were determined to be proceeds from unlawful mining operations in the Endo Community and will now be transferred to the federal government.
The forfeiture order was granted following an application filed by the Economic and Financial Crimes Commission (EFCC), represented by its counsel, Ekele Iheanacho, SAN.
EFCC has relied on Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, to file its application and presented evidence to prove that the funds were proceeds of illegal activities.
The commission had initially secured an interim forfeiture order on July 8, 2024, which was publicized to allow anyone with legitimate claims to the fund to come forward.
Read also: Lagos launches Red Line Rail, set to transport 500,000 passengers daily
However, at the final hearing on October 16, 2024, the defendants’ counsel, Ibrahim Idris, SAN, representing Lideal Mines Ltd and Etong Agrotech Nigeria Ltd, withdrew his challenge to the forfeiture, which was welcomed by the commission and allowed the court to proceed with the final order.
The forfeited sum was held in four bank accounts belonging to the defendants, with over N1.2 billion in accounts with Zenith Bank, UBA, and Globus Bank. This ruling marks a significant win in the government’s efforts to crack down on financial crimes and illegal mining operations in the country.
Justice Nwite also adjourned the case until October 23, 2024, for the hearing of applications for the forfeiture of additional sums linked to the defendants.
