Court Orders Final Forfeiture of $7 Million to FG After Recovery from Nigerian Bank Vault

The Federal High Court in Abuja ordered the final forfeiture of $7 million recovered from Providus Bank Limited's vault to the Federal Government. The Economic and Financial Crimes Commission (EFCC) had applied for the forfeiture, suspecting the funds to be proceeds of unlawful activities.

Despite an interested party's lawyer appearing in court, they failed to provide supporting documents, leading to the court ruling in favor of the EFCC. The funds had been subject to an interim forfeiture order granted earlier, with no opposition received since then.