BUSINESS
JUST IN: British Court Orders Release Of Frozen $1.2 Million To Nigerian Senator, Ned Nwoko
A recent ruling by the City of London Magistrates’ Court has demonstrated the efficiency of the British justice system, financial expert said, on Friday.
The court ordered the release of $1,199,965 to Nigerian Senator Prince Ned Nwoko, which had been frozen in an account belonging to Mr. Keith Davies.
The funds were originally transferred by Nwoko to a middleman named Abubakar, who then transferred them to Davies, a self-acclaimed broker.
However, the authorities froze the funds due to ownership dispute.
After the court proceedings, the judge ruled in favor of Nwoko, acknowledging him as the rightful owner of the funds.
HSBC has been ordered to release the money to Nwoko’s legal representatives within seven days.
Reacting to this, a financial expert privy to the information, who craves anonymity, said that the recent high-profile ruling has shown the British justice system’s effectiveness.
Details later…
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