Anti-corruption and elections / EFCC

Money Laundering: Court Orders Interim Forfeiture of N6bn, 12 Houses Owned by Jonathan’s Allies

Justice Nnamdi Dimgba of the Federal High Court sitting in Abuja on Tuesday, January 16, 2018 ordered a temporary forfeiture of N6,584,785,000; $222,000 and Aso Savings Limited shares valued at N2,028,800,000 believed to be proceeds of the sale by Power Holdings Company of Nigeria (PHCN) to the Federal Government. The judge gave the order while ruling on an ex-parte motion by the Economic and Financial Crimes Commission, EFCC. He also ordered an interim forfeiture of 12 houses and plots of land located in Lagos, Ibadan and Abuja believed to be corruptly acquired. The EFCC alleged that the forf…