Justice C. J. Aneke of the Federal High Court in Lagos has ordered the forfeiture of the sum of N827.6m recovered by the Economic and Financial Crimes Commission (EFCC) from two firms described as contractors to the Niger Delta Development Commission. The EFCC told the court that the firms, Flank Power Resources Limited and GMFD Ventures Limited, were awarded contracts and paid by the NDDC, but failed to execute the projects, while the funds were diverted and laundered. The anti-graft agency added that its investigation revealed that the costs of the projects were also inflated. The Head, Media and Publicity, EFCC, Dele Oyewale said this in a statement titled, ‘EFCC secures final forfeiture of N827.6m from NDDC contractors’, that the forfeiture order was made by Justice C. J. Aneke on June 29, 2020. “Matthew Edevbie is the Chief Executive Officer of Flank Power Resources Limited.

Source: Nigerian Tribune August 04, 2020 08:47 UTC