Fraud: Court Hears How Unregistered Company Banked N1Bn in Two Days, Orders Forfeiture of N1.04bn Traced to Patience Jonathan

Matilda Omonaiye/

The Economic and Financial Crimes Commission (EFCC) has secured an interim forfeiture of the sum of N1,000,494,000 lodged in three deposits with Fidelity Bank Plc on May 20^th and 25^th 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.

NewsmakersNG learnt that the Commission had gotten intel that a bank account domiciled in Fidelity Bank had a huge sum of money that was not being used by anybody.

Upon receipt of the intelligence, the EFCC swung into action by conducting a preliminary investigation, which revealed that Patience and some relatives of the 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 May 20, 2015 by Fynface, who is alleged to be in charge of the Company, while N1 billion was transferred in two tranches on May 25, 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.