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The Economic and Financial Crimes Commission (EFCC) has handed over N24 million recovered during an investigation into an alleged conspiracy and fraudulent sale of shares to former senator, Alaba Obende.
Mr Obende represented Edo North Senatorial District during the 7th National Assembly between 2011 and 2015.
The money was handed over to him by the commission’s Lagos Zonal Directorate 2 on Thursday.
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It was presented in three bank drafts issued by Access Bank, accorging to a press statement from the EFCC on Friday.
The EFCC said in the press statement posted to Facebook that the recovery followed a petition it received on 15 January 2020, alleging conspiracy and the fraudulent sale of shares by Coronation Securities Limited.
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The commission, however, did not disclose further details about the alleged fraud or the circumstances surrounding the recovery of the money.
The handover is part of the EFCC’s recent asset-recovery activities in Lagos.
A day earlier, the Lagos Zonal Directorate 2 handed over N108 million recovered during an investigation into alleged fraud involving two former employees of Greenwich Planet Sun King Nigeria Limited.
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The EFCC stated that the case involved allegations of abuse of office, forgery, stealing and diversion of funds against Nkechi Gladys Megai, who is currently at large after fleeing to the United Kingdom, and Godson Eze, a former chief financial officer of the company.
According to the commission, the suspects allegedly abused their positions by forging documents, creating fake invoices in the names of the company’s legitimate vendors and diverting funds through fraudulent transactions.
The EFCC said the fraudulent payments ran into several hundreds of millions of naira.
Speaking at the handover ceremony, the Acting Zonal Director of the Lagos Zonal Directorate 2, Bawa Kaltungo, stressed that the commission remained committed to ensuring that victims of financial crimes obtained justice and, where possible, recovered funds fraudulently taken from them.
“Efforts are ongoing to ensure that all persons connected with the fraud, including those who have fled the country, are brought to justice in accordance with the law,” Mr Kaltungo said.
The commission’s recent asset-recovery activities have also included the recovery of properties linked to alleged proceeds of crime.
On 15 July, the Federal High Court in Lagos ordered the final forfeiture of 52 terrace and maisonette units in Lekki, Lagos, to the Federal Government after finding that the properties were proceeds of unlawful activities.
The properties, located at Mercyville Estate, Covenant Way, off New Road, Ilasan, Lekki, were recovered from Fielddreams Limited, Ifeanyi Nweke and Amex Savings and Loans Limited.
The court granted the EFCC’s application after finding material contradictions in the respondents’ evidence and holding that the commission had established reasonable grounds to suspect that the properties were proceeds of unlawful activities.
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