Alleged N3.4b Laundering: Court Orders Forfeiture Of $1.52M To Fed Govt

A Federal High Court in Lagos has forfeited $3,719,855.94 (about N1,522,388,242.00) found in the bank account of Enerbett International Ltd to the Federal Government.

Justice Chukwujekwu Aneke made the final order following an ex-parte application by the Economic and Financial Crimes Commission (EFCC).

It followed the expiration of the judge’s June 18 interim forfeiture order which invited anyone with a lawful interest in the sum to show up and show cause.

The anti-graft agency, through its counsel, Rotimi Oyedepo, had told the court that the sum was part of credit inflows of $8,360,444.43 (about N3,421,595,487.42) received by the firm and reasonably suspected to be proceeds of unlawful activity.

He said $4,640,398.33 (N1,899,129,420.54) had already been dissipated by suspects in the suit marked FHC/L/CS/586/2021.

Arguing the application, Oyedepo relied on an affidavit in support of a motion on notice deposed to by an EFCC investigator, Samaila Yusuf Gulma.

The court heard the investigation followed a “damning intelligence report alleging that Enerbett International Ltd was used to warehouse, conceal and retain huge sums of money reasonably suspected to be proceeds of unlawful activity.”

The sums, the commission said, “were surreptitiously transferred to concealed and retained” in “account No.4694976024 opened in the name of Enerbett International Ltd in First City Monument Bank Plc.

“That as of 31st day of May, 2021, the said account had witnessed credit inflows to the tune of $8,360,444.43 which sums are reasonably suspected to be proceeds of unlawful activity.

“That before the intelligence was received and acted upon by the Commission, the company and its cronies had dissipated the total sum of $4,640,398.33 leaving a balance of $3,720,046.10.

“That as of 31st day of May, 2021, the balance standing to the credit of the said account was $3,720,046.10.”

Ruling on the application, Justice Aneke held that the application was “meritorious and ought to be granted

“In light of the above reasons, I hereby order the final forfeiture and same be forfeited to Federal Government of Nigeria.”