EFCC forfeits N827m funds connected with NDDC contractors

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The Economic and Financial Crimes Commission, has secured the final forfeiture of over N827m from Flank Power Resources Limited and GMFD Ventures Limited.

Both firms are linked to contractors with the Niger Delta Development Commission.


In a statement by the Head, Media and Publicity of the EFCC, Dele Oyewale, the commission explained that the forfeiture followed the order of Justice Chukwujekwu Aneke of the Federal High Court, Lagos, following an affidavit deposed to by an EFCC investigator.


The commission had prayed the court for the forfeiture of the sum to the federal government of Nigeria, being proceeds of unlawful activity, traced to some contractors’ accounts with Zenith Bank.


The statement said the commission secured the interim forfeiture of the money on June 8, 2020, and its final forfeiture was granted by the court on June 29, 2020.


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