Connect with us

FEATURED

EFCC Secures Final Forfeiture Of N827.6m NDDC’s Contract Sum Linked To Edevbie

Published

on

Found dead





The Economic and Financial Crimes Commission, (EFCC) has secured the final forfeiture of N827, 679,098.32, being a contract money from Niger Delta Development Commission (NDDC) traced to the accounts of Flank Power Resources Limited and GMFD Ventures Limited.

Both firms are linked to contractors with the Niger Delta Development Commission, NDDC.

Matthew Edevbie, the Chief Executive Officer of Flank Power Resources Limited, is the elder brother to Olorogun David Edevbie, the Chief of Staff to Delta State Governor, Ifeanyi Okowa.

Advertisement

A statement by the Head, Media and Publicity of the EFCC, Dele Oyewale, on Tuesday said that the forfeiture followed the order of Justice Chukwujekwu Aneke of the Federal High Court, Ikoyi, Lagos.

The order was sequel to an affidavit deposed to by an EFCC investigator, in which the Commission prayed the court for the forfeiture of the sum to the federal government of Nigeria, being proceeds of unlawful activity, traced to some contractors’ accounts with Zenith Bank.

A breakdown of the recovery shows that N616, 679, 098.32 (Six Hundred and Sixteen Million, Six Hundred and Seventy-Nine Thousand, Ninety-Eight Naira, Thirty-Two Kobo) was recovered from Flank Power Resources Limited, while N211million (Two Hundred and Eleven Million Naira) was recovered from GMFD Ventures Limited.

Advertisement

It was discovered that between 2018 and 2019, Flank Power Resources Limited received the funds from the NDDC, through its account number:1015642852 , while GMFD received through account number: 1014657819 both of which are domiciled in Zenith Bank Plc for desilting contracts which aside being inflated, were not executed, but diverted and laundered.

The sum of N616, 679, 098.32 recovered from Flank Power Resources Limited was facilitated through 62 Zenith Bank drafts in favour of the EFCC Recovered Funds Account with the Central Bank of Nigeria, CBN, while the N211million from GMFD came through 22 Zenith Bank drafts in favour of the same account.

The EFCC secured the interim forfeiture of the money on June 8, 2020 and its final forfeiture was granted by the court on June 29, 2020.

Advertisement
flood
COMMUNITY REPORT2 hours ago

Delta Seeks Collective Action As Flood Washes Vehicles, Motorcycles Away In Agbor

FEATURED3 hours ago

Wike Speaks On Rivers’ HoS Public Confession Against Fubara, Says His Death Rumours Diversionary

BUSINESS15 hours ago

NNPCL: Omo-Agege Congratulates S’South Non-executive Director, Austin Avuru, Tasks New Board On Oil Sector Reform

NPDC-Crude-Oil
FEATURED16 hours ago

FULL LIST: Senate To Hold Public Hearing On Crude Oil Theft As Sen. Nwoko’s Ad-hoc C’ttee Releases Date, List Of Invited Stakeholders

FEATURED18 hours ago

Obi vs Tinubu: APC Fires Back At Peter Obi Over Criticism Of Tinubu’s Economic Policies

FEATURED19 hours ago

Tompolo’s Tantita Hails New NNPCL GCEO, Bayo Ojulari, Management Board On Appointment

FEATURED2 days ago

Edo: Tribunal Throws Out AA’s Petition Against Gov Okpebhole’s Election

Helicopter crash
FEATURED2 days ago

BREAKING: Major Shake-up In NNPCL As Tinubu Fires Mele Kyari As CEO, Akinyelure, Names Replacements

social media
FEATURED2 days ago

Nwoko’s Game-Changing Move: How One Defection Is Redefining Delta Politics

FEATURED2 days ago

Police Arrest Suspected Kidnappers, Gun Runners In Delta

FEATURED2 days ago

Contract Breach: Six Commissioners Go Into Hiding As Ebonyi Gov Orders Their Arrest

Missing Genitals
FEATURED2 days ago

Mortuary Attendants Arrested Over Dead Man’s Missing Genitals

BUSINESS4 days ago

Key Takeaways From Sen. Nwoko’s X Space Engagement On Big Tech Accountability Bill

Akwa-Ibom
FEATURED4 days ago

How Akwa Ibom Sacked Commissioner Died After Vomiting Blood

Fubara
FEATURED4 days ago

I’ve Printed Evidence Of How I Was Offered N5bn As Bribe To Coordinate Impeachment Of Fubara – CoS

Advertisement
Advertisement