A Federal High Court in Abuja has granted an order of interim forfeiture of N510m contained in an account belonging to a company – Elioenai International College, allegedly owned by former Commander of the Presidential Air Fleet (PAF), Air Vice Marshal (AVM) Uko Etim Ebong.
Ebong served as the commander of PAF between 2013 and July 2015.
Justice Ahmed Mohammed granted the order in a ruling on Monday on an ex-parte application filed and argued by lawyer to the Economic and Financial Crimes Commission (EFCC), Ekele Iheanacho.
The EFCC alleged that the sum of N510m was part of proceeds of illegal acts, saying that the money formed part of the N731million allegedly paid to AVM Ebong, through a company with which he allegedly has a link – Magnificent 5 Ventures Limited, from the office of the National Security Adviser (ONSA) without any contractual agreement.
The commission also alleged that the sum of N510m was found in an account belonging to a company owned by Ebong, Elionenai International College.
The EFCC alleged that “AVM Ebong, while being a public officer managed and used private companies to carry out financial transactions while concealing his identity”.
The companies, according to the commission, include Magnificent 5 Ventures Ltd, Tripple Kay Company Nigeria Ltd and Elionenai International College Ltd.
It stated that the directors of Magnificent 5 Ventures Ltd registered with the Corporate Affairs Commission were Ebong’s wife, Mrs Ebong Mercy Uko, and her brother, Ekpo Ubong Asuquo.
The EFCC stated that Ebong controlled the financial dealings of the company.
The commission claimed, “Without any contractual agreement, a total sum of N731, 000, 000.00 was paid to Magnificent 5 Ventures Limited between May, 2014 and October, 2014 by the ONSA under the guise of payment for renovation of PAF barracks, PAF staff quarters.
“There is no proof of any work carried out by Magnificent 5 Ventures Ltd based on which the above payments were made to it”.
In the ruling on Monday, Justice Mohammed said he was convinced that the EFCC has made out a case to warrant the grant of the interim forfeiture order.
The judge said: “An order is hereby made for the interim forfeiture of the sum of N510,000,000 in Sterling Bank account No: 0029581583 recovered by the applicant, which funds are reasonably suspected to be proceeds of unlawful activities.”
Justice Mohammed further ordered the EFCC to publicise the said order and for anyone who is interested in the funds in respect of which the order was made, to appear before the court and show cause, within 14 days, why the money should not be permanently forfeited to the Federal Government.
