A Lagos Federal High Court, today, ordered interim forfeiture of the sums of N190, 277,634.2 million and $70, 811, 48, USD, allegedly stolen from the First Bank of Nigeria, by one of it’s staff, Muiz Tijani Adeyinka, to the Federal government of Nigeria.
The court also directed the publication of the interim forfeiture order in any national newspaper, for anyone who is interested in the monies, to appear before the court and show cause within 14 days why the final order of forfeiture of the said monies should not be made.
Justice Akintayo Aluko, who presided over the court made the above orders while granting an Exparte motion for the orders, filed and moved by C. C. Okezie, a counsel in the Economic and Financial Crimes Commission (EFCC).
The EFCC lawyer in praying the court to grant the orders, said it’s pursuant to Section 17 of the Advance Fee Fraud and other Fraud Related Offence Act no. 14, 2016, and Section 44 (2)(b) of the Constitution of the Federal Republic of Nigeria.
Okezie also told the court that the motion is supported with a 21 paragraph affidavit, deposed to by one Michael John Idoko, an Investigator with the agency, and a written address.
In the affidavit, the deponent stated the followings; “that the Commission on the 26th March 2024, received a petition from First Bank of Nigeria (FBN) alleging fraudulent transactions in various bank accounts within and outside FBN. And that investigation revealed that Muiz Tijani Adeyinka (MTA) was a staff of FBN.
“That he is attached to the settlement office of the bank and by virtue of his office, had the capacity to carry out some inalienable access available only to the settlement office. And that the said Muiz Tijani Adeyinka manipulated the settlement accounts by creating fictitious domiciliary inflows and he immediately transfers the naira equivalent to himself and his cronies.
“Investigation has thus far revealed and traced the sum of N35 billion being benefitted by the said Muiz Tijani Adeyinka and his cronies. And that the modus operandi is that, after the manipulation, and in a bid to conceal and disguise the said fraudulent proceeds derived, he launders same by purchasing US dollars and USDT. And that the said proceeds were traced to his personal dollar account and crypto wallet accounts.
“Muiz Tijani Adeyinka, in a bid to launder the funds incorporated a company Golden Sieve Motors Limited, he used the fraudulent proceeds to purchase and import exotic vehicles and warehoused them under the company and car stand Golden Sieve motors Limited.
“That part of the unsold exotic vehicles were recovered in the course of investigation. A total number of 28 vehicles were recovered by the applicant at the car stand Golden Sieve Motors Limited. A forfeiture order on the said vehicles was sought and granted by Honourable Justice Faji.
“Investigation also revealed that MTA maintains 62 different bank accounts while his syndicates, Mafiotan Oladipupo Olumuyiwa, the MD/CEO of Molafax Limited, Anwuli Daniel Chukwuebuka, MD/CEO of Danhypro Services Ltd and Chimebere Igboecheonwu mantains 30, 59 and 17 different accounts respectively with several banks.
“Furthermore, Muiz Tijani Adeyinka transferred these monies directly from the FBN settlement’s account to his syndicates accounts with details: Molafax Limited FBN account no. 2042463159, Danhypro Services Ltd FBN account no. 2042517375 as well as Clinton Chimebere Igboecheonwu FBN account no. 3159854377. And that the narrations of these transactions usually reads; Unified Payments, IC Markets, Bamboo, Riseves Trade, Chaka and Flutterwave.
“That these syndicates both directly and through the use of other proxies transferred these monies back to the principal suspect either by the purchase of Dollars and USDT equivalent which was sent to his Domiciliary accounts and wallets, and also transferring to his accounts and his wife Tijani Hawaw Olaitan’s account.
“That the Law firm of Kanu Agabi, SAN & Co in a letter dated 8th August, 2024, entitled: “Surrender of the Various sums of monies currently standing as credit in the Accounts Listed In The Attached Schedule” clearly shows the willingness of the Recipients of the balances of this monumental fraud surrendering the funds illegally gotten to the Nominal Complainant First Bank of Nigeria Plc.”
The deponent further states that: “based on the findings from our investigation, the funds fraudulently obtained by Muiz Tijani Adeyinka, in the course of his official activities as a settlement officer in FBN and been sought to be forfeited to the Federal Government in favour of First bank of Nigeria Plc, are reasonably suspected to be proceeds of unlawful activities and are not proceeds of any of legitimate business venture.
“That the funds ought to be forfeited so that the suspects would not benefit from proceeds of their unlawful activity. And that it is in the interest of justice to grant this application.”
Justice Aluko after listening to the EFCC lawyer, C. C. Okezie, held that “I have considered the application. I have examined the affidavit in support, the written address and the exhibits attached. The application has merit and same is hereby granted.”
The judge thereafter adjourned to October 9, for further hearing on the application.