Firm Forfeit 2.7 Billion Naira To Federal Government

Written by Kayode Shopekan

FEDERAL HIgh Court in Lagos has ordered Spiralfoss LTD to forfeit 2.7 billion naira and an Audi vehicle to federal government.

Justice Tijani Ringim of the Federal High Court sitting in Ikoyi, who ordered the interim forfeiture of the sum, noted that the order came following an ex parte application filed by the Economic and Financial Crimes Commission (EFCC). Prosecution counsel, Chinenye Okezie, told the Court that the money was domiciled in Fidelity Bank, and also sought the forfeiture of a black bulletproof Audi Model with registration number BDG529GJ, traced to Spiralfoss Limited.

Join our WhatsApp Channel

Justice Ringim granted the application and ordered the interim forfeiture of the money and vehicle.

Kayode Shopekan

+ posts

Latest from Finance & Economy

Kenya Court Keeps Lamu Refinery Plans on Track Despite Land Challenge

Written by Amanze Chinonye A Kenyan court has declined to grant an interim order sought by 133 Lamu residents to stop preparations for the proposed Dangote refinery, leaving the planned groundbreaking on Wednesday while directing parties to preserve the existing position on the

Burkina Faso Inaugurates First National Gold Refinery as Traore Pushes Local Processing

Written by Amanze Chinonye Burkina Faso inaugurated its first national gold refinery on Monday, Sept. 28, taking a step toward processing more of its gold domestically instead of sending it abroad for refining, Prime Business Africa reports. President Ibrahim Traore inaugurated the Raffinerie

Court Orders NMDPRA to Continue Issuing Fuel Import Licences to Rano, Two Others

Written by Amanze Chinonye Nigeria’s Federal High Court in Abuja has ordered the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to continue granting, renewing and extending petroleum-product import licences to Matrix Energy, A.A. Rano and AYM Shafa, subject to compliance with statutory

Nigeria’s Oil and Gas Local Content Rises to 61% from 5% in 2010 – NCDMB

Written by Amanze Chinonye Nigeria’s local content in the oil and gas industry has risen to 61% from about 5% since the country enacted legislation in 2010 to increase indigenous participation in the sector, the Nigerian Content Development and Monitoring Board (NCDMB) said.

Nigeria Targets 2028 for Shift to Commercial Domestic Gas Pricing

Written by Amanze Chinonye Nigeria is targeting Sept. 24, 2028, to transition its domestic gas market to a willing-buyer, willing-seller system, the country’s midstream and downstream petroleum regulator said, as it seeks to deepen investment and reduce reliance on administered pricing. Join our

Cookie	Duration	Description
cookielawinfo-checbox-analytics	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional	11 months	The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy	11 months	The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.

Firm Forfeits N2.7bn Naira To Federal Government

Kayode Shopekan

Kayode Shopekan

Related Posts

EFCC Warns Nigerian Lawyers Over Foreign-Currency Fees

EFCC, FBI Investigate Handling of U.S.-Funded HIV, TB Programme Funds in Nigeria

‘Deeply Embarrassed by the Timing’ : Tinubu Orders EFCC to Reverse Osun Account Freeze

EFCC Releases Peter for Nigeria, Mama Pee After Questioning Over Alleged Naira Abuse

Adopt Varsity-Designed Scheme For Salary Payment, ASUU Tells FG

Breaking: Imo PDP Spokesman, Nwadike Resigns

Featured Stories

‘Naija Spirit’ Heads to Birnin Kebbi After UNILAG Outing

ICPC Petitioned Over Alleged N50bn Contract, N1.9bn Shortfall in Presidential Amnesty Programme

Related Posts

EFCC Warns Nigerian Lawyers Over Foreign-Currency Fees

EFCC, FBI Investigate Handling of U.S.-Funded HIV, TB Programme Funds in Nigeria

‘Deeply Embarrassed by the Timing’ : Tinubu Orders EFCC to Reverse Osun Account Freeze

EFCC Releases Peter for Nigeria, Mama Pee After Questioning Over Alleged Naira Abuse

Latest from Finance & Economy

Kenya Court Keeps Lamu Refinery Plans on Track Despite Land Challenge

Burkina Faso Inaugurates First National Gold Refinery as Traore Pushes Local Processing

Court Orders NMDPRA to Continue Issuing Fuel Import Licences to Rano, Two Others

Nigeria’s Oil and Gas Local Content Rises to 61% from 5% in 2010 – NCDMB

Nigeria Targets 2028 for Shift to Commercial Domestic Gas Pricing

Adopt Varsity-Designed Scheme For Salary Payment, ASUU Tells FG

Breaking: Imo PDP Spokesman, Nwadike Resigns

Kenya Court Keeps Lamu Refinery Plans on Track Despite Land Challenge

Suggestions

Firm Forfeits N2.7bn Naira To Federal Government

Related Posts

Adopt Varsity-Designed Scheme For Salary Payment, ASUU Tells FG

Breaking: Imo PDP Spokesman, Nwadike Resigns

Featured Stories

Related Posts

Latest from Finance & Economy

Adopt Varsity-Designed Scheme For Salary Payment, ASUU Tells FG

Breaking: Imo PDP Spokesman, Nwadike Resigns

Don't Miss