By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Court Orders Final Forfeiture of N449m Abandoned in Lagos BDC Shop
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

Court Orders Final Forfeiture of N449m Abandoned in Lagos BDC Shop

Farouk Mohammed
By Farouk Mohammed
Published: May 19, 2017
Share
4 Min Read
SHARE

The Federal High Court in Lagos on Friday ordered the final forfeiture of the sum of N449,597,000 found in an abandoned Bureau de Change shop in Victoria Island, Lagos by the Economic and Financial Crimes Commission.


 

The forfeiture order was made by Justice Rilawan Aikawa following a motion on notice taken before him by the anti-graft agency.

The judge ordered that the funds should be forfeited to the Federal Government as no one came forward to claim it.

The judge had earlier on April 19 ordered the temporary forfeiture of the money and adjourned till Friday for one Mohammed Tauheed, who was joined as respondent in the suit, and any other interested party to appear before him to give reasons why the money should be finally forfeited to the Federal Government.

- Advertisement -

On Friday, counsel for the EFCC, Idris Mohammed, told the judge that the interim order of April 19 had been advertised in the newspaper on May 11, so as to bring the case to the notice of Tauheed any interested party.

He added that apart from the newspaper publication, Tauheed was also served with the motion on notice.

He urged the judge to order the final forfeiture of the money since neither Tauheed nor anyone else came forward to claim it.

Justice Aikawa, in a short ruling, granted the application.

- Advertisement -

The judge held, “This court ordered, among others, the respondent (Tauheed) and any other interested party to show cause, within 14 days, why the interim forfeiture of N449,597,000 should not be made final. As far as my record shows, neither the respondent nor any other interested party has filed any affidavit or any other process to show cause why the interim order should not be made final.

“In the instant case, the respondent has, additionally, not filed any process in response to the motion on notice. In the circumstances, I have no option but to grant the application as prayed.

“Accordingly, I hereby ordered that the sum of N449,597,000 found in possession of the respondent, which sum is reasonably suspected to be proceeds of an unlawful activity, be finally forfeited to the Federal Government.”

An investigator with the EFCC, Moses Awolusi, had, in an affidavit filed before the judge, stated that operatives of the anti-graft agency found the N449,597,000 on April 7, 2017 in several “Ghana Must Go” sacks in a shop numbered LS64, located on at Legico Shopping Plaza, at Victoria island, Lagos.

He said the EFCC found out that the shop had not been opened for two years, adding that the anti-graft agency recovered the money after investigating intelligence information received on Tauheed.

According to the investigator, Tauheed allegedly conspired with the owner of the abandoned shop to launder the money.

Awolusi said Tauheed had earlier been brought to the EFCC office by the Chairman and Vice-Chairman of Legico shopping Plaza, Mr. Sulaiman Daba and Alhaji Ishaq Ayandiran, respectively.

He said during the visit, Tauheed told the anti-graft agency that he received the money in cash from a serving government official, whose name he refused to disclose “for security reasons.”

He said Tauheed, in the presence of his lawyer, later agreed to return the money to the Federal Government, which is the rightful owner of the funds strongly suspected to be proceeds of criminal activities of the unnamed serving government official.

The EFCC said it would be in the interest of justice for the court to order the permanent forfeiture of the money to the Federal Government.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:BDC ShopCourtLagos
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article Acting President Osinbajo Receives 2017 Budget from National Assembly
Next Article Ander Herrera Wins Manchester United Player of Year Title

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 4 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Tinubu Urged by PDP to Cut Fuel and Electricity Costs Amid Eid-el-Kabir Festivities
News
Mike Ejeagha
Mike Ejeagha, Nigerian Highlife Maestro, Dies at 95
News
Tinubu Welcomes Gov Eno to APC as Political Realignments Intensify Across States
Politics Top stories
Super Eagles Rally to Draw Against Russia in International Friendly
Sport
Manchester United Raises Annual Core Profit Forecast to Between £180m and £190m After Europa League Boost
Sport
- Advertisement -
Ad imageAd image

You May Also Like

Ange Postecoglou
Sport

Tottenham Hotspur Part Ways with Ange Postecoglou Despite Europa League Glory

Yusuf Abubakar
Yusuf Abubakar
June 6, 2025
News

Dangote Names Main Refinery Access Road “Bola Ahmed Tinubu Road” in Honor of President

Muhammad A. Aliyu
Muhammad A. Aliyu
June 6, 2025
L-R: Ify Okoye, Digital Creator; Linda Ejiofor-Suleiman, Actress; Stella Erebor, Head Internal Audit, Nigerian Communications Commission; Emanuella Samuel, Comedienne/Actress, Sylvia Musalagani, Safety Policy Manager, Africa, Middle East & Turkey (AMET), Meta, and Nicole Chikwe, founder of The Mummy Summit, during the launch of Instagram teen accounts in Lagos on Wednesday, June 4, 2025
Tech

Meta Launches Teen Accounts on Instagram in Nigeria to Enhance Online Safety for Young Users

Farouk Mohammed
Farouk Mohammed
June 6, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?