24.9 C

Former NDDC Managing Director forfeits N250m received as contract kickback to FG


1min read


THE Economic Financial Crimes Commission (EFCC) says it has secured a final forfeiture of a N250 million traced to the account of a former Managing Director of the Niger Delta Development Commission (NDDC).

Dele Oyewale, Head, Media and Publicity at the EFCC, who disclosed this in a statement on Friday said the forfeiture order was given by Justice R.M Aikawa of the Federal High Court sitting in Lagos.

Although the anti-graft agency did not give the name of the MD in the statement emailed to The ICIR , the agency said the final forfeiture of the money was based on an application for final forfeiture of the fund by its Lagos zonal office.

Oyewale said  EFCC’s investigation before it approached the court to seek the forfeiture of the money revealed that the money was meant for a purported contract but was later used to purchase a property for the former MD.

“The EFCC had approached the court, seeking the forfeiture of the fund, arguing that it was traced, recovered and reasonably suspected to be part of proceeds of unlawful activities,” the statement read.

“Specifically, investigation by the Commission revealed that a contractor with the NDDC, received funds for a purported contract and transferred N250 million, suspected as kickbacks, to a real estate company, for the acquisition of a property in favour of the former MD of the NDDC.”

- Advertisement -

“The EFCC, armed with enough facts and figures involved in the transaction, approached the court for the forfeiture of the money to the government. Justice Aikawa granted the order of final forfeiture accordingly,” it added.

Vincent Ufuoma is a reporter with The ICIR. He is a lover of God, truth, knowledge and justice.

- Advertisement -
- Advertisement -

If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation



Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Support the ICIR

We need your support to produce excellent journalism at all times.


Omicron virus: UK adds Nigeria to red list over travel fears

THE United Kingdom has outlined plans to add Nigeria to the red list for...

NPA eyes digitalised operations in 2025

THE Nigerian Ports Authority has said that the ports would be fully digitalised in...

How Rivers State is responding to sexual violence

By Chioma EZENWAFOR CHISOM Isaac was only in SS2 when she was first gang-raped by...

Delta joins Lagos government in hunt for killers of Dowen schoolboy 

Delta State Governor Ifeanyi Okowa has vowed to work with the Lagos State Government...

Airlines, travel operators worry over new COVID-19 variant

NIGERIAN aviation stakeholders have expressed worry regarding the future of the travel industry, which...

Most Read


Subscribe to our newsletter