Court orders final forfeiture of $7m found in Providus Bank vault by EFCC

Providus bank office

A federal high court in Abuja has ordered the final forfeiture of $7 million stashed in the vault of a Providus Bank branch in the Ikoyi area of Lagos.

TheCable understands that the money was found in the account of the MD of an oil and gas company owned by a prominent society woman — who is currently being prosecuted by the Economic and Financial Crimes Commission (EFCC).

Emeka Nwite, the presiding judge, on Monday, issued the order following a final forfeiture application moved by Rotimi Oyedepo, EFCC counsel.

According to the anti-graft agency, the interim order for the forfeiture of the sum was issued on August 27.

BACKGROUND

When the case was called last Friday, Gbenga Akande, a lawyer, announced appearance for an interested party.

Akande refused to disclose the name of his client despite insistence by Oyedepo and the court.

Akande told the court that when he filed an affidavit on why the EFCC counsel should know the name of the interested party, the presiding judge ordered Oyedepo to serve Akande with copies of the documents and adjourned hearing to September 15.

During the resumption of hearing on Monday, Akande was not present in court.

However, Darlington Ozurumba, another lawyer, appeared in court for an interested party.

Subsequently Oyedepo moved the application for final forfeiture of the money to the federal government since no party had shown interest in the matter.