JUST IN: Patience Jonathan loses N1 billion to FG

Former First Lady, Patience Jonathan, has forfeited temporarily
N1.0004 billion to the Federal Government.

According to the News Agency of Nigeria, the interim forfeiture
followed a court order secured by the Economic and Financial Crimes
Commission, EFCC.

The money was lodged in three deposits with Fidelity Bank Plc on
20th and 25th May 2015.

The forfeiture order by the Federal High Court sitting in Kano
and presided over by Justice A. Lewis-Allagoa is consequent upon a
motion ex parte filed by the Commission seeking for the interim
forfeiture of the money.

The money was found in the account of Magel Resort Limited, a
company linked to the former First Lady.

The Commission had information that a bank account domiciled in
Fidelity Bank, had a huge sum of money that was not being used by
anybody.

Upon receipt of the intelligence, the EFCC swung into action by
conducting a preliminary investigation, which revealed that
Patience and some relatives of former president, Goodluck Jonathan
were directors of the Company.

Others named as directors are Oba Oba Tamunotonye, Goodluck
Jonathan Aruera, Goodluck Jonathan Ariwabai and Esther Fynface.

In trying to trace the origin of the money, it was discovered
that N500,000 was deposited on the 20th of May, 2015 by Fynface,
who is alleged to be in charge of the Company, while N1 billion
(One Billion Naira Only) was transferred in two tranches on the
25th May, 2015 from PAGMAT OIL AND GAS NIGERIA LIMITED, a company
that was not incorporated with the Corporate Affairs
Commission.

Justice A. Lewis-Allagoa held that: “An interim forfeiture order
is granted to the Federal Government in the sum of N1,000,494,000
(One Billion, Four Hundred and Ninety Four Thousand Naira Only) in
the Bank account of the 1st respondent Magel Resort Limited
4011019546 which is maintained with 2nd respondent Fidelity Bank
Plc”.

The court further ordered that the forfeited sum be deposited in
the Treasury Single Account of the Federal Government.