How Court Orders Final Forfeiture Of Monies Recovered From Ex-First Bank’s Staff To The FG

The Federal High Court sitting in Lagos, has ordered the final forfeiture of more than one billion naira, Three Hundred and Ninety Two Thousand, Eight Hundred and Eighteen Dollars and £35,070 recovered from Muiz Tijani Adeyinka, a former employee of First Bank of Nigeria to the Federal Government.

The judge gave the order following a motion on notice for the final forfeiture which was supported with an affidavit deposed to by Isah Yusuf Nadabo, an investigator with the EFCC.

Justice Owoeye had, on November 27, 2024, ordered the interim forfeiture of the funds and also ordered the publication of the order in a national newspaper for any interested party to show cause why the monies should not be finally forfeited to the Federal Government.

Moving the application for the final forfeiture counsel to the EFCC, Zeenat Atiku, stated that “The Commission, on March 26, 2024, received a petition from First Bank of Nigeria (FBN) alleging fraudulent transactions in various bank accounts within and outside First Bank of Nigeria Plc.

According to Atiku, Adeyinka manipulated the settlement accounts by creating fictitious domiciliary inflows , with which he immediately transferred the Naira equivalent to himself and his cronies.

After listening to the EFCC’s counsel, Justice Owoeye granted the application as prayed and held that after examining the affidavit in support, the written address and the publication attached. The application has merit.