Nigerian Court Orders Final Forfeiture of $7 Million Abandoned in Providus Bank
Justice Emeka Nwite of the Federal High Court in Abuja ordered the final forfeiture of $7 million abandoned in Providus Bank to the Nigerian government. The Economic and Financial Crimes Commission (EFCC) had recovered the funds, leading to the court ruling.
The EFCC had initially obtained an interim order to freeze the sum, which was later finalized due to non-compliance from interested parties. Despite opposition and delays in showing cause, the court ultimately granted the EFCC's application for the permanent forfeiture of the funds.
Plus234Feed summary based on reporting from Daily Post. Read the original report below.
Read full article
Continue on Daily Post
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Court Orders Final Forfeiture of $7 Million to FG After Recovery from Nigerian Bank Vault
EFCC Raids Providus Bank HQ, Arrests Staff Over $7M Cash Deposit
Court Orders Forfeiture of $7m Linked to Aisha Achimugu in Money Laundering Case
Court Orders Permanent Forfeiture of $49,700 Seized From Ex-INEC Commissioner
Ex-Army Properties MD Challenges EFCC's N246 Million Forfeiture Claim
Court Orders Final Forfeiture of N246m Shares linked to Ex-Army General
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
