{"id":116243,"date":"2025-02-05T13:49:28","date_gmt":"2025-02-05T12:49:28","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=116243"},"modified":"2025-02-05T13:49:28","modified_gmt":"2025-02-05T12:49:28","slug":"court-orders-final-forfeiture-of-n1-1bn-pounds-dollars-recovered-from-ex-first-bank-staff","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/court-orders-final-forfeiture-of-n1-1bn-pounds-dollars-recovered-from-ex-first-bank-staff\/","title":{"rendered":"Court orders final forfeiture of N1.1bn, pounds, dollars recovered from ex-First Bank staff"},"content":{"rendered":"<div dir=\"auto\" style=\"text-align: justify;\">Justice A.O. Owoeye of the Federal High Court sitting in Ikoyi, Lagos, has ordered the final forfeiture of the sums of N1<br \/>\n1 billion, $392,818.01 and \u00a335,070 recovered from one Muiz Tijani Adeyinka, a former employee of First Bank of Nigeria, FBN, to the Federal Government of Nigeria.<\/p>\n<p>The judge gave the order following a motion on notice for the final forfeiture order, which was supported with an affidavit deposed to by Isah Yusuf Nadabo, an investigator with the EFCC.<\/p>\n<p>Justice Owoeye had, on November 27, 2024, ordered the interim forfeiture of the funds and also ordered the publication of the order in a national newspaper for any interested party to show cause why the various sums of money should not be finally forfeited to the Federal Government.<\/p>\n<p>Moving the application for the final forfeiture on Monday, February 3, 2025, counsel to the EFCC, Zeenat Atiku, stated, \u201cThe Commission, on March 26, 2024, received a petition from First Bank of Nigeria (FBN) alleging fraudulent transactions in various bank accounts within and outside First Bank of Nigeria Plc.<\/p>\n<p>\u201cInvestigation revealed that Muiz Tijani Adeyinka, who is the principal suspect, is a former staff of First Bank Nigeria Plc. He is also the MD\/CEO of Golden Sieve Logistics Ltd, Golden Sieve Properties Ltd., and Golden Sieve Motors Ltd., which are all duly incorporated with the Corporate Affairs Commission, CAC.<\/p>\n<p>\u201cHe was attached to the Settlement Office of the bank and by virtue of his office, he had some inalienable access available only to the Settlement Office.\u201d<\/p>\n<p>According to Atiku, Adeyinka manipulated the settlement accounts by creating fictitious domiciliary inflows , with which he immediately transferred the Naira equivalent to himself and his cronies.<\/p>\n<p>She added that \u201cIn a bid to conceal and disguise the said fraudulent proceeds derived, he laundered the same by purchasing US Dollars and USDT.<\/p>\n<p>\u201cThe said proceeds were traced to his personal dollar account and crypto wallet accounts.\u201d<\/p>\n<p>Atiku further submitted that the interim forfeiture order was published in The Punch newspaper of December 5, 2024 in compliance with the directive of the court.<\/p>\n<p>After listening to the EFCC\u2019s counsel, Justice Owoeye granted the application as prayed and held that, \u201cI have considered the application. I have examined the affidavit in support, the written address and the publication attached. The application has merit and the same is hereby granted.\u201d<\/p><\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Justice A.O. Owoeye of the Federal High Court sitting in Ikoyi, Lagos, has ordered the final forfeiture of the sums of N1 1 billion, $392,818.01 and \u00a335,070 recovered from one&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":105046,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-116243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Court orders final forfeiture of N1.1bn, pounds, dollars recovered from ex-First Bank staff - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/court-orders-final-forfeiture-of-n1-1bn-pounds-dollars-recovered-from-ex-first-bank-staff\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Court orders final forfeiture of N1.1bn, pounds, dollars recovered from ex-First Bank staff - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"Justice A.O. 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