By Soni Daniel
Abuja—An Abuja Federal High Court presided over by Justice Ijeoma Ojukwu has ordered the interim forfeiture to the Federal Government of N397.6 million suspected to be pension funds illegally hidden in two commercial banks.
The two banks hold the huge cash in both local and foreign currencies, but the owners have remained unknown despite repeated efforts by Economic and Financial Crimes Commission, EFCC, to unravel them.
The cash is N357,206,311.15, $91,955.38 (N33,411,987.32) and £15,050 (N7,040, 841.5).
Frustrated by the inability of the two holding banks to name the owners of the cash and make them come forward and claim the money, EFCC approached the court and sought the forfeiture of the money to the Federal Government in line with its mandate.
The judge, on October 26, issued the order of interim forfeiture for the monies, following an ex parte summons by…
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