According to a statement by spokesman of EFCC, Dele Oyewale said the commission did not reveal the name of the former Managing Director in the statement.
Oyewale said Justice Rilwan Aikawa of the Federal High Court sitting in Lagos, recently granted the final forfeiture of the money, based on an application for final forfeiture of the fund by the Lagos zonal office of the EFCC.
The EFCC had approached the court, seeking the forfeiture of the fund, arguing that it was traced, recovered, and reasonably suspected to be part of the proceeds of unlawful activities.
An investigation by the Commission revealed that a contractor with the NDDC received funds for a purported contract and transferred two hundred and fifty million, suspected as kickbacks, to a real estate company, for the acquisition of a property in favour of the former MD of the NDDC.
