Sequel to an ex parte motion filed and argued by counsel for the Economic and Financial Crimes Commission, Rotimi Oyedepo, a Federal High Court in Lagos has ordered the interim forfeiture of the N5.3bn linked to a firm, Kaiser Strategic Services Limited, to the Federal Government.
Justice Tijjani Ringim made the order on Wednesday.
Oyedepo linked the sum to a firm, Kaiser Strategic Services Limited, saying it was reasonably suspected to be proceeds of unlawful activity.
“The money was deposited in three bank accounts in tranches of N1.4bn, N2.3bn, and N1.6bn.
“I pray the court to hand over the sum to the Federal Government’s custody for 14 days in the interim and subsequently to be permanently forfeited to the government,” Oyedepo said.
Oyedepo then applied for an order of court directing the publication of the interim order in any national newspaper to enable any interested party to appear before the court to show the cause why final order of forfeiture of funds should not be made in favour of the Federal Government of Nigeria.
The lawyer supported his application with a four-page affidavit sworn to by an EFCC investigator, Adamu Yusuf.
According to the affidavit, Kaiser Strategic Services Ltd was incorporated on November 18, 2010, with a registered address at No. 9, Orioko, Ilorin, Kwara State.
“There is no business endeavour in the said address. The company is not carrying out any legitimate business but was primarily procured to retain the proceeds of unlawful activities.
“Upon incorporation of the Kaiser Strategic Services Ltd, a corporate account was opened. The account started witnessing huge cash deposits which are not the proceeds of a legitimate business but represent funds reasonably suspected to be the proceeds of unlawful activities.
“We invited the Managing Director of Kaiser Strategic Services Ltd via a letter dated August 3, 2021, which was acknowledged by one A. Muhamed.
“Till date, we have not received any objection or opposition from Kaiser Strategic Services Ltd,” Yusuf said.
Justice Ringim, in a bench ruling, granted Oyedepo’s application as prayed.
The judge adjourned the matter till September 29, 2021 for a report of compliance.