Patience Jonathan loses N1 billion to FG

A Federal High Court sitting in Kano has ordered an interim
forfeiture of the sum of N1,000,494,000 traced to Magel Resort
Limited, a company linked to former First Lady ,Dame Patience
Jonathan.

The former First Lady 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.

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

The order was granted by Justice A. Lewis-Allagoa following an
application by the Economic and Financial Crimes Commission
(EFCC).

The Acting Head of Media and Publicity of EFCC, Mr. Tony
Orilade, said in a statement on Friday that the court also ordered
that the seized cash be deposited in the Treasury Single Account
(TSA) of the Federal Government.

He said :“The Commission had received an intelligence 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 preliminary investigation, which revealed that Patience
and some relatives of former president, Goodluck Jonathan were
directors of the Company.

“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.