Former NDDC boss forfeits N250m to FG

 

The Economic and Finacial Crimes Commission says it has secured a final forfeiture of N250 million from a former Managing Director of the Niger Delta Development Commission (NDDC) to the Federal Government.

 

In a statement posted on the commission’s twitter handle on Friday, it said Justice R.M Aikawa of the Federal High Court sitting in Lagos, gave the order.

 

The EFCC said the order followed an application for final forfeiture of the fund by the Lagos zonal office of the EFCC, after it found out that the fund was suspected to be proceeds of unlawful activity.

 

The commission also said the contractor with the NDDC, received the funds for a purported contract and transferred N250 million, suspected as kickbacks, to a real estate company, for the acquisition of a property in favour of the former MD of the NDDC.

 

The name of the former MD and the contractor was, however, not mentioned in the statement.

 

The NDDC had in the past few months been enmeshed in alleged financial recklessness.

 

This is, at least, the second order secured by the anti-graft agency in two months from a court for forfeiture on properties believed to be proceeds of crime from officials of the NDDC.

 

The commission had last month secured the final forfeiture of N827.7 million from two companies linked as contractors with the NDDC.

 

The companies are Flank Power Resources Limited and GMFD Ventures Limited.