The final forfeiture of N2, 739,836,331.31 (two billion, seven hundred and thirty-nine million, eight hundred and thirty-six thousand, three hundred and thirty-one naira, and thirty-one kobo)—the proceeds of illicit solid mineral mining in Endo Community, Nasarawa State—was ordered by Justice Emeka Nwite of the Federal High Court, Abuja on Wednesday, October 16, 2024.
The Economic and Financial Crimes Commission, or EFCC, filed an application on September 27, 2024, through its attorney, Ekele Iheanacho, SAN, requesting the final forfeiture of the amount to the federal government in accordance with Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 of 2006, on the grounds that it had a reasonable suspicion that it was the proceeds of illegal activity. The judge issued the order in response to this application.
At Wednesday’s proceedings, Ibrahim Idris, SAN, counsel to the first and second defendants, Lideal Mines Ltd and Etong Agrotech Nigeria Ltd, respectively, informed the court of his withdrawal of the application on behalf of his clients, challenging the final forfeiture of the sum, which the prosecution welcomed with no objection.
The two defendants own the four bank accounts containing the forfeited money. One hundred and two million, eight hundred and thirty-five thousand, four hundred and sixty Naira, and eighty-five Kobo (N102,835,460.85) were all accounted for in a Zenith Bank account held by Lideal Mines Ltd. In contrast, N1,288,265,692.11 (One Billion, Two Hundred and Eighty-eight Million, Two Hundred and Sixty-five Thousand, Six Hundred and Ninety-two Naira, Eleven Kobo) was a Zenith Bank account; N1,187,909,426.70 (One Billion, One Hundred and Eighty-seven Million, Nine Hundred and Nine Thousand, Four Hundred and Twenty-six Naira, Seventy Kobo) was accounted for in UBA; and N160,825,751.70 (One Hundred and Sixty Million, Eight Hundred and Twenty-five Thousand, Seven Hundred and Fifty-one Naira, Seventy Kobo) was accounted for in Globus Bank accounts; all of these belong to Etong Agrotech Nigeria Limited.
The case was postponed by Judge Nwite until October 23, 2024, so that the application for the ultimate forfeiture of further amounts associated with the three offenders may be heard.
