Court orders interim forfeiture of Kaiser Strategic Services’ N5.3bn

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The sum of N5,318,517,789 found in the bank accounts of a company, Kaiser Strategic Services Limited, has been seized.

The Federal High Court in Ikoyi, Lagos, ordered the interim forfeiture to the Federal Government.

Justice Tijanni Garba Ringim ruled following an ex parte application filed by the Economic and Financial Crimes Commission (EFCC).

EFCC counsel, Rotimi Oyedepo, told the court that the money was deposited in three tranches in three accounts.

Oyedepo, in his prayers, urged the court to order the forfeiture in the interim.

Justice Ringim directed the publication of his order for any interested party to, within 14 days, show cause, why a final order of forfeiture should not be made.

After the bench ruling, the judge adjourned the matter until September 29.

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