Federal High Court Orders ₦1.3 Billion Forfeiture In Kaduna Fraud Case!

Federal High Court Orders ₦1.3 Billion Forfeiture In Kaduna Fraud Case!

The Federal High Court in Kaduna has ordered the temporary forfeiture of ₦1.3 billion allegedly diverted into the private account of Indo Kaduna Marts JV Nigeria Limited……..READ MORE

In its ruling, the court instructed that a public notice be published in two national newspapers, inviting any concerned parties—individuals or entities—to present reasons why the funds should not be permanently forfeited to the Federal Government.

The ruling, issued by Justice G. M. Kabara on February 28, followed an application filed on February 14.

According to court records, the forfeited sum was recovered into the Independent Corrupt Practices and Other Related Offences Commission (ICPC) recovery account at the Central Bank of Nigeria (CBN) during an ongoing investigation into the activities of Kaduna State officials between 2015 and 2023.

The Federal Government is the applicant in the case, while Indo Kaduna MRTS JV Nigeria Limited is the defendant. The suit was filed under the Advance Fee Fraud and Other Related Offences Act 2006, as well as the Proceeds of Crime (Recovery and Management) Act, 2022.

The case has been adjourned until April 8.