Former NDDC Managing Director forfeits N250m received as contract kickback to FG1mins read

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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.”

“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.


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