Court forfeits another N7.6 billion linked to former minister
The sum of money was kept in a Sterling Bank account, and is alleged to be part of a $153.3 million loot.
___7122063___https:______static.pulse.com.gh___webservice___escenic___binary___7122063___2017___8___9___15___3
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![Niger State Governor, Umar Bago. [Twitter:@Umarfryda]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'100'%20height%3D'100'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "Niger State Governor, Umar Bago. [Twitter:@Umarfryda]")
The ruling was handed down by Justice Chuka Obiozor on Wednesday, August 9, 2017, after Economic and Financial Crimes Commission (EFCC)'s ex parte application accused the former minister of looting the money from the Nigerian National Petroleum Corporation (NNPC).
The sum of money was kept in a Sterling Bank account, and is alleged to be part of a $153.3 million loot stashed away in three separate banks.
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After granting the application, Justice Obiozor adjourned till August 28, 2017, to give any interested party the chance to convince the court not to permanently forfeit the sum to the government.
The agency has been able to recover the sums of N23.4 billion, $5 million and another N9.08 billion out of the $153.3m.
This is coming only days after a Federal High Court, also in Lagos, ordered the permanent forfeiture of a $37.5m Banana Island mansion owned by the former minister on Monday, August 7.
In addition to the building, the court also ordered the permanent forfeiture of the sums of $2,740,197.96 and N84,537,840.70 realised as rents on the property.
On Tuesday, August 8, the EFCC revealed that its operatives discovered boxes of gold, silver and diamond jewellery from the Abuja residences of the former minister.
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