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Home Anti-Corruption Patience Jonathan Forfeits N1bn by Court Order
  • Anti-Corruption

Patience Jonathan Forfeits N1bn by Court Order

By
Tony Orilade
-
February 1, 2019
Dame Patience Jonathan
Dame Patience Jonathan

Patience Jonathan Forfeits N1bn by Court Order

The Economic and Financial Crimes Commission, EFCC, has secured an interim forfeiture of the sum of N1,000,494,000 (One Billion, Four Hundred and Ninety Four Thousand Naira) only lodged in three deposits with Fidelity Bank Plc on 20th and 25th May, 2015.

The forfeiture order by Federal High Court sitting in Kano and presided over by Justice A. Lewis-Allagoa is consequent upon a motion ex parte filed by the Commission seeking for the interim forfeiture of the money, which was found in the Bank account of Magel Resort Limited, a company linked to the former First Lady of Nigeria, Patience Jonathan.

The Commission had gotten an intel that a bank account domiciled in Fidelity Bank, had a huge sum of money that was not being used by anybody.

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Upon receipt of the intelligence, the EFCC swung into action by conducting preliminary investigation, which revealed that Patience and some relatives of former president, Goodluck Jonathan were directors of the Company. Others named as directors are Oba Oba Tamunotonye, Goodluck Jonathan Aruera, Goodluck Jonathan Ariwabai and Esther Fynface.

In trying to trace the origin of the money, it was discovered that N500,000 was deposited on the 20th of May, 2015 by Fynface, who is alleged to be in charge of the Company, while N1 billion (One Billion Naira Only) was transferred in two tranches on the 25th May, 2015 from PAGMAT OIL AND GAS NIGERIA LIMITED a company that was not incorporated with the Corporate Affairs Commission.

Ruling on the motion, Justice A. Lewis-Allagoa held that: “An interim forfeiture order is granted to the Federal Government in the sum of N1,000,494,000 (One Billion, Four Hundred and Ninety Four Thousand Naira Only) in the Bank account of the 1st respondent Magel Resort Limited 4011019546 which is maintained with 2nd respondent Fidelity Bank Plc”.

The court further ordered that the forfeited sum be deposited in the Treasury Single Account of the Federal Government.

Tony Orilade
Ag. Head, Media & Publicity

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Tony Orilade
Tony Orilade
http://www.PRNigeria.com

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Local Government Autonomy Not Negotiable — FG DeclaresNigeria’s Future Rests on Smart Defence Management — Badaru to Military LeadersCustoms Hands Over 99.2bn Worth of Illicit Pharmaceutical Products to NAFDACTroops Intercept 3 Gunrunners, Seize Weapons, Cash in KadunaTroops Bust IPOB/ESN Logistics Network, Arrest Informants in Southeast — DHQSoludo and Radda’s Candid Confessions on Homegrown Terror By Tahir AhmadRat Story Was a Smokescreen to Divert Attention from Buhari’s Health - Garba Shehu RevealsNigeria's Second Chance at a Global Cashless Future By Fatimah Yusuf UsmanAir Chief Rallies New Intelligence Officers for Proactive Security ResponseCustoms, NAFDAC Activate MoU to Fight Substandard Products By Abdullah MaiwadaNELFUND Resumes Monthly Upkeep Payments, Credits Over 3,600 StudentsNNPCL Must Account for ‘Unreconciled’ N210tr in Financial Statements - Senate InsistsPresidency Debunks Misleading Reports on VP Shettima’s Remarks at Book LaunchPolice Arrest, Repatriate Chinese Fugitive Wanted for Tax FraudMurder of Wedding Guests: Plateau Court Remands 20 Suspects
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