Thursday, October 9, 2025
  • About
  • Advertise
  • Careers
  • Contact
Newsroom Nigeria
  • Home
  • News
    • Across the Nation
    • Crime Watch
    • Metro
    • Political Arena
  • Politics
  • Opinions
  • Crime and Court
    • Judiciary
  • Business
    • Banking
    • Business and Economy
    • Business Life
No Result
View All Result
Newsroom Nigeria
ADVERTISEMENT
Home JUDICIARY

Court Orders Final Forfeiture of N1,168,602, 877.44,  $392,818.01,  £35,070  Recovered From Ex-First Bank’s Staff to FG

Moving the application for the final forfeiture on Monday , February 3, 2025, counsel to the EFCC, Zeenat Atiku, stated that “The  Commission, on March 26, 2024, received a petition from First Bank of Nigeria (FBN) alleging fraudulent transactions in various bank accounts within and outside First Bank of Nigeria Plc.

Newsroom Nigeria by Newsroom Nigeria
February 4, 2025
in JUDICIARY, News
Reading Time: 2 mins read
0
SHARES
Share on FacebookShare on Twitter

Justice A.O.Owoeye of the Federal High Court sitting in Ikoyi, Lagos, has ordered the final forfeiture of the sums of N1,168,602,877.44,( One Billion, One Hundred and Sixty Eight Thousand, Six Hundred and Two, Eight Hundred and Seventy Seven Naira, Forty Four kobo)  $392,818.01( Three Hundred and Ninety Two Thousand, Eight Hundred and Eighteen United States Dollars, One Cent) and £35,070( Thirty Five Thousand, Seventy Pound Sterling) recovered from one Muiz Tijani Adeyinka, a former employee of First Bank of Nigeria, FBN, to the Federal Government of Nigeria, FGN.

The judge gave the order following a motion on notice for the final forfeiture order, which was supported with an affidavit deposed to by Isah Yusuf Nadabo, an investigator with the EFCC.

Justice Owoeye had, on November 27, 2024, ordered the interim forfeiture of the funds and also ordered the publication of the order in a national newspaper for any interested party to show cause why the various sums of money  should not be finally forfeited to the Federal Government.

Related posts

TINUBU ACCEPTS INEC CHAIRMAN’S DEPARTURE, BESTOWS NATIONAL HONOUR ON HIM

TINUBU ACCEPTS INEC CHAIRMAN’S DEPARTURE, BESTOWS NATIONAL HONOUR ON HIM

October 7, 2025
Yakubu Concludes Tenure, Hands Over to Agbamuche-Mbu as INEC’s Acting Chairman

Yakubu Concludes Tenure, Hands Over to Agbamuche-Mbu as INEC’s Acting Chairman

October 7, 2025

Moving the application for the final forfeiture on Monday , February 3, 2025, counsel to the EFCC, Zeenat Atiku, stated that “The  Commission, on March 26, 2024, received a petition from First Bank of Nigeria (FBN) alleging fraudulent transactions in various bank accounts within and outside First Bank of Nigeria Plc.

“ Investigation revealed that Muiz Tijani Adeyinka, who is the principal suspect, is a former staff of First Bank Nigeria Plc. He is also the MD/CEO of Golden Sieve Logistics Ltd, Golden Sieve Properties Ltd., and Golden Sieve Motors Ltd., which are all duly incorporated with the Corporate Affairs Commission, CAC.

“He was attached to the Settlement Office of the bank and by virtue of his office, he had  some inalienable access available only to the Settlement Office.”

According to Atiku, Adeyinka manipulated the settlement accounts by creating fictitious domiciliary inflows , with which he immediately transferred the Naira equivalent to himself and his cronies.

She added that “In a bid to conceal and disguise the said fraudulent proceeds derived, he laundered the same by purchasing US Dollars and USDT.

“The said proceeds were traced to his personal dollar account and crypto wallet accounts.”

Atiku further submitted that the interim forfeiture order was published in The Punch newspaper of December 5, 2024 in compliance with the directive of the court.

After listening to the EFCC’s counsel, Justice Owoeye granted the application as prayed and held that “ I have considered the application. I have examined the affidavit in support, the written address and the publication attached. The application has merit and the same is hereby granted.”

ShareTweetSendShareShare
Previous Post

$6.2m Alleged Procurement Fraud: Setting the Records Straight about EFCC’s 10th Witness

Next Post

65th BIRTHDAY: WITH LOVE FROM ABDULRAZAQ By Raheem Adedoyin

Related Posts

TINUBU ACCEPTS INEC CHAIRMAN’S DEPARTURE, BESTOWS NATIONAL HONOUR ON HIM
News

TINUBU ACCEPTS INEC CHAIRMAN’S DEPARTURE, BESTOWS NATIONAL HONOUR ON HIM

October 7, 2025
Yakubu Concludes Tenure, Hands Over to Agbamuche-Mbu as INEC’s Acting Chairman
News

Yakubu Concludes Tenure, Hands Over to Agbamuche-Mbu as INEC’s Acting Chairman

October 7, 2025
NDLEA Smashes Cocaine Cartels Behind 6 UK-bound Shipments, Arrests Arrowhead
News

NDLEA Smashes Cocaine Cartels Behind 6 UK-bound Shipments, Arrests Arrowhead

October 5, 2025
EFCC Arraigns Woman for N240.5m Forex Fraud in Abuja
JUDICIARY

EFCC Arraigns Woman for N240.5m Forex Fraud in Abuja

October 2, 2025
No More Account Maintenance Fees, Says Sterling Bank to Nigerians on Independence Day
BANKING

No More Account Maintenance Fees, Says Sterling Bank to Nigerians on Independence Day

October 1, 2025
How Ponzi Scheme Operator Diverted Victims’ N91.5m through Unlicensed MFB in Enugu – Witness
JUDICIARY

How Ponzi Scheme Operator Diverted Victims’ N91.5m through Unlicensed MFB in Enugu – Witness

September 27, 2025
Next Post

65th BIRTHDAY: WITH LOVE FROM ABDULRAZAQ By Raheem Adedoyin

RECOMMENDED NEWS

Breaking: Court Asks Lawyers Committee to Punish Two SANs over Yahaya Bello

1 year ago

NDLEA Intercepts N16.1bn Opioids, as Iran-bound Drug Mule Excretes 76 Wraps of Cocaine 

1 year ago

Viewpoint: Bridging the Investment Gap: The Tinubu Model

1 year ago

Viewpoint: Between Atiku Abubakar, Panama Papers and Lagos-Calabar Superhighway

1 year ago

FOLLOW US

ADVERTISEMENT
ADVERTISEMENT

POPULAR NEWS

  • LAGOS, OSUN STAKEHOLDERS REJECT PDP ZONING, RALLY FOR GBENGA HASHIM

    South Rejected Tinubu in 2023, North and South Will Reject Him in 2027 — Gbenga Hashim’s Group

    0 shares
    Share 0 Tweet 0
  • HEDA Drags Ozekhome, Son to ICPC Over Alleged Fraud, Forged IDs and London Property Grab

    0 shares
    Share 0 Tweet 0
  • TINUBU ACCEPTS INEC CHAIRMAN’S DEPARTURE, BESTOWS NATIONAL HONOUR ON HIM

    0 shares
    Share 0 Tweet 0
  • NDLEA Smashes Cocaine Cartels Behind 6 UK-bound Shipments, Arrests Arrowhead

    0 shares
    Share 0 Tweet 0
  • IN JOS, TINUBU ASSURES NORTHERN CHRiSTIANS OF FAIRNESS, AS HE PAYS TRIBUTE TO LYDIA YILWATDA, MOTHER OF THE APC CHAIRMAN

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
Newsroom Nigeria

The NEWSROOM NIGERIA is an independent, liberal on – line news platform committed to the right of the individual to pursue his economic happiness, without undue interference of the state. It shall promote the rights of the individual; right to freedom of worship and conscience, and to hold opinions and impact same without hindrance, subject to such laws are as consistent with the constitution and necessary for the protection of the rights of others.

  • About
  • Advertise
  • Careers
  • Contact

© 2025 Newsroom Nigeria - Designed by Semasir Connect.

No Result
View All Result
  • Home
  • News
    • Across the Nation
    • Crime Watch
    • Metro
    • Political Arena
  • Politics
  • Opinions
  • Crime and Court
    • Judiciary
  • Business
    • Banking
    • Business and Economy
    • Business Life

© 2025 Newsroom Nigeria - Designed by Semasir Connect.