By Lillian Ogbonna (AGENDAWATCHDOG) – Nigeria’s apex anti-corruption watchdog, the Economic and Financial Crimes Commission (EFCC), has announced the recovery of the sum of N250 million from a former Managing Director of the Niger Delta Development Commission (NDDC).
This was contained in a signed statement released by the spokesman of the EFCC, Dele Oyewale, on Friday. The statement did not, however, reveal the identity of the former Managing Director of the NDDC.
Following an application for final forfeiture of the fund by the Lagos zonal office of the EFCC, which made an application to the Federal High Court sitting in Lagos, on the premise that the fund was suspected to be part of the proceeds of illegal activities, Justice Rilwan Aikawa granted the final forfeiture of the money.
The EFCC had earlier launched an investigation which revealed that the sum of N250, which was transferred by an NDDC contractor to a real estate company, from funds meant for a project, was clandestinely used in acquiring a property for the former MD of the NDDC.