Court Reverses Teleology Forfeiture, Slams EFCC for Concealing ₦55bn Judgment
The Federal High Court in Abuja reversed the temporary forfeiture of properties belonging to Teleology Nigeria Limited, criticizing the EFCC for concealing a ₦55 billion judgment against Keystone Bank. Justice Emeka Nwite's ruling on September 23, 2025, declared that the EFCC had no legal authority to act as a debt recovery agent for Keystone Bank.
The court found that the assets in question were not proceeds of crime as alleged by the EFCC. The judgment highlighted the EFCC's failure to disclose crucial information, including Keystone Bank's existing billion-dollar judgment against Teleology in a separate case.
The court rebuked the EFCC for its lack of transparency and misleading actions in the matter.
Plus234Feed summary based on reporting from News Online Nigeria. Read the original report below.
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