Court orders final forfeiture of N2.7bn proceeds of illegal mining in Nasarawa

Court orders final forfeiture of N2.7bn proceeds of illegal mining in Nasarawa

The Federal High Court in Abuja, presided over by Justice Emeka Nwite, has ordered the final forfeiture of N2,739,836,331.31 to the federal government, funds identified as proceeds of illegal mining activities in Endo Community, Nasarawa State.

The judgment was delivered following an application filed by the Economic and Financial Crimes Commission (EFCC) through its counsel, Ekele Iheanacho, SAN, on September 27, 2024.

The EFCC’s application requested the final forfeiture of the sum, citing Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 of 2006, on the grounds that the funds were reasonably suspected to be proceeds of unlawful activities.

In his ruling, Justice Nwite stated, “The sum of N2,739,836,331.31 has been forfeited to the federal government, following its identification as proceeds from illegal mining operations in Nasarawa State.”

The court’s decision came after an initial interim forfeiture order granted on July 8, 2024, which was subsequently publicized in The Punch Newspaper on August 8, 2024, to notify any potential claimants of the funds.

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During the proceedings, Ibrahim Idris, SAN, counsel for the first and second defendants—Lideal Mines Ltd and Etong Agrotech Nigeria Ltd—announced his withdrawal of an application challenging the forfeiture.

“After careful consideration, my clients have decided to withdraw their challenge to the final forfeiture of the sum,” Idris said. The EFCC welcomed this development without any objections.

The forfeited funds, which were spread across four bank accounts, were traced to the two defendants. Lideal Mines Ltd held N102,835,460.85 in a Zenith Bank account. Meanwhile, Etong Agrotech Nigeria Ltd had N1,288,265,692.11 in Zenith Bank, N1,187,909,426.70 in a UBA account, and N160,825,751.70 in Globus Bank.

In response to the judgment, Dele Oyewale, the EFCC‘s Head of Media & Publicity, stated, “This final forfeiture is a significant victory in our ongoing efforts to tackle the scourge of illegal mining and related economic crimes. The commission will continue to work diligently to bring all parties involved in unlawful activities to justice.”

Justice Nwite has adjourned the case until October 23, 2024, for a hearing regarding the final forfeiture of other sums linked to the three defendants.

Court orders final forfeiture of N2.7bn proceeds of illegal mining in Nasarawa