Court hands over N450M to FG after owner fails to show up.

The Federal High Court in Lagos has given the Federal Government permission to permanently seize the sum of N449,597,000 which was found in a Lagos shop in April.

The cash was found by the Economic and Financial Crimes Commission (EFCC) in an abandoned Bureau de Change facility in Victoria Island.

The court order was given by presiding judge, Justice Rilwan Aikawa on Friday, May 19, because no one came forward to claim the money.

“This court ordered, among others, the respondent (Tauheed) and any other interested party to show cause, within 14 days, why the interim forfeiture of N449,597,000 should not be made final. As far as my record shows, neither the respondent nor any other interested party has filed any affidavit or any other process to show cause why the interim order should not be made final,” Justice Aikawa said.

“Accordingly, I hereby ordered that the sum of N449,597,000 found in possession of the respondent, which sum is reasonably suspected to be proceeds of an unlawful activity, be finally forfeited to the Federal Government," he added.

The cash was discovered after a whistleblower gave information to the EFCC.

ALSO READ: EFCC discovers N400m in Lagos Bureau De Change shop

Justice Aikawa had, on April 19, ordered the temporary forfeiture of the money to enable other interested parties come before him to lay claim to it and show why it should not be finally forfeited to the government.

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