2nd September, 2021
Justice Tijanni Garba Ringim of the Federal High Court sitting in Ikoyi, Lagos, on Wednesday, September 1, 2021, ordered the interim forfeiture of the sum of N5, 318,517,789.48 found in the account of a company, Kaiser Strategic Services Limited.
Justice Ringim gave the order, following an ex parte application filed by the Economic and Financial Crimes Commission, EFCC.
Moving the application on Wednesday, September 1, 2021, counsel to the Commission, Rotimi Oyedepo, told the court that the money was deposited in three accounts in tranches of N1,407,182,797.00, N2,275,525,493.17 and N1,635,809,499.31.
He, therefore, urged the court to order the interim forfeiture of the fund to the Federal Government in the interim.
Consequently, Justice Ringim ordered the interim forfeiture of the money and also directed the publication of same in any national newspaper for any interested party to appear before the court, within 14 days, to show cause, why the final order of forfeiture of the funds should not be made in favour of the Federal Government.
Justice Ringim in a bench ruling granted the application as prayed.
He adjourned till September 29, for a report of compliance.
Google Checks showed that the company, which was registered in 2010 has its office at 9, Orioko , Ilorin in Kwara state.
Its share capital at inceptions was N10 million.
It appears to be a family business as all the directors have Ibrahim as surname.
The directors are Olaitan Ibrahim, Ola Ibrahim and Binta Ibrahim.
Further checks showed that the directors are also directors in some other companies.
Olaitan Ibrahim is a Director at HUSSAINI AND SONS and GID PROCUREMENT SERVICES and APEX HEIGHTS GLOBAL LINKS LIMITED.
Ola Ibrahim is also a director at CG ENERGY LIMITED, Wharfside PROPERTY SERVICES LIMITED APEX HEIGHTS GLOBAL LINKS LIMITED.
Binta has about 10 other companies.