Following an ex parte application filed by the Economic and Financial Crimes Commission, (EFCC) against a Lagos based company, Kaiser Strategic Services Limited, the court has ordered the company to temporarily forfeit N5, 318,517,789.48 to the Federal Government.
The order given yesterday by Justice Tijanni Garba Ringim of the Federal High Court sitting in Ikoyi, Lagos, was sequel to the inability of the company to reveal the source of the money found in its account.
Moving the application on Wednesday, September 1, 2021, counsel to the Commission, Rotimi Oyedepo, told the court that the money was deposited in three accounts in tranches of N1,407,182,797.00, N2,275,525,493.17 and N1,635,809,499.31.
He, therefore, urged the court to order the interim forfeiture of the fund to the Federal Government.
Consequently, Justice Ringim ordered the interim forfeiture of the money and also directed the publication of same in any national newspaper for any interested party to appear before the court, within 14 days, to show cause, why the final order of forfeiture of the funds should not be made in favour of the Federal Government.
Justice Ringim, in a bench ruling, granted the application as prayed and adjourned the case till September 29, for a report of compliance.
