Legal Nigeria

Court orders interim forfeiture of firm’s N2.7b

By Robert Egbe

A Federal High Court in Lagos has ordered the interim forfeiture of N2.7billion recovered from the bank account of a Lagos-registered firm, Spiralfoss Ltd.

Justice Tijani Ringim made the order following an ex-parte application filed by the Economic and Financial Crimes Commission (EFCC).

EFCC counsel, Chinenye Okezie, who moved the application on September 10, 2021, told the court that the money was domiciled in the account of a new generation bank.

Okezie also sought the forfeiture of a black bulletproof Audi Model ABL W12 Quatro with registration number BDG529GJ traced to Spiralfoss Ltd.

The prosecution counsel prayed the court to order the interim forfeiture of the fund and vehicle to the Federal Government.

Justice Ringim granted the application.

He also directed the publication of the Order in any national newspaper for interested parties to appear before the court within 14 days, to show cause why the final order of forfeiture should not be made in favour of the Federal Government.

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