Court Orders Final Forfeiture of N2.7bn from Illegal Mining Operations

The Federal High Court in Abuja has ordered the final forfeiture of N2,739,836,331.31, identified as proceeds from illegal mining activities in the Endo community of Nasarawa State.

Justice Emeka Nwite issued the ruling on Wednesday, following an application by the Economic and Financial Crimes Commission (EFCC).

The EFCC’s request, filed on September 27, 2024, cited the funds as proceeds from unlawful activities under the Advance Fee Fraud and Other Fraud Related Offences Act. An interim forfeiture order was previously granted on July 8, 2024, allowing anyone with a legitimate claim to contest the forfeiture.

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During the proceedings, the defendants’ counsel withdrew their challenge against the forfeiture, which the prosecution accepted. The forfeited funds are held in four bank accounts belonging to two companies, Lideal Mines Limited and Etong Agrotech Nigeria Limited.

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The breakdown of the accounts includes:

N102,835,460.85 in a Zenith Bank account of Lideal Mines Ltd

N1,288,265,692.11 in a Zenith Bank account of Etong Agrotech

N1,187,909,426.70 in a UBA account of Etong Agrotech

N160,825,751.70 in a Globus Bank account of Etong Agrotech

Justice Nwite has adjourned the case until October 23, 2024, for further proceedings regarding additional sums linked to the defendants.