Home | News | General | Former NDDC boss forfeits N250m to FG
Oyedepo, Adeboye: Pastor Poju Oyemade backs Paul Enenche, Ibiyeomie over attacks on Daddy Freeze
Five signs your guy really wants to marry you

Former NDDC boss forfeits N250m to FG

The Economic and Finacial Crimes Commission says it has secured a final forfeiture of N250 million from a former Managing Director of the Niger Delta Development Commission (NDDC) to the Federal Government.


In a statement posted on the commission’s twitter handle on Friday, it said Justice R.M Aikawa of the Federal High Court sitting in Lagos, gave the order.


The EFCC said the order followed an application for final forfeiture of the fund by the Lagos zonal office of the EFCC, after it found out that the fund was suspected to be proceeds of unlawful activity.


The commission also said the contractor with the NDDC, received the 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 name of the former MD and the contractor was, however, not mentioned in the statement.


The NDDC had in the past few months been enmeshed in alleged financial recklessness.


This is, at least, the second order secured by the anti-graft agency in two months from a court for forfeiture on properties believed to be proceeds of crime from officials of the NDDC.


The commission had last month secured the final forfeiture of N827.7 million from two companies linked as contractors with the NDDC.


The companies are Flank Power Resources Limited and GMFD Ventures Limited.

Click to signup for FREE news updates, latest information and hottest gists everyday

Advertise on NigerianEye.com to reach thousands of our daily users

CLICK HERE TO READ MORE FROM: General Visit website


view more articles

About Article Author

Chuka (Webby) Aniemeka
Chuka (Webby) Aniemeka

Chuka is an experienced certified web developer with an extensive background in computer science and 18+ years in web design &development. His previous experience ranges from redesigning existing website to solving complex technical problems with object-oriented programming. Very experienced with Microsoft SQL Server, PHP and advanced JavaScript. He loves to travel and watch movies.

View More Articles

100 Most Popular News

1 2 Displaying 1 - 100 of 181