Survivor  fund Akwa Ibom State Polytechnic Massive Recruitment for Academic and Non-Academic Staff  Yobe State SUBEB recruitment portal

BREAKING!! NDDC Contractors Surrenders Over 800M As EFCC Begins Manhunt

1 min


Check Out These Top & Trending National Stories:
Akpabio Calm Down, I Never Got Any NDDC Contract — Ibori
Edo Election: Obaseki Faces Tough Fight As Edo Assembly Deputy Speaker, 4 Other Legislators Endorses Ize-Iyamu
FULL LIST: Akpabio Name Two Former Governors, Others In NDDC Contracts Scandal
N40Billion Probe: Reps Suspend Consideration Of Report On NDDC
The Economic and Financial Crimes Commission, EFCC has secured the final forfeiture of N827.7 million from two contractors of the Niger Delta Development Commission, NDDC.

The contractors are Flank Power Resources Limited and GMFD Ventures Limited. Matthew Edevbie is the CEO of Flank Power.

The forfeiture followed the order of Justice Chukwujekwu Aneke of the Federal High Court, Ikoyi, Lagos.

READ ALSO  Ugep to host Maiden Leboku Literary Festival & Heritage Awards, August 30

This followed an affidavit by an EFCC investigator, in which the Commission prayed the court for the forfeiture of the sum to the federal government of Nigeria, being proceeds of unlawful activity.

The money was traced to the contractors’ accounts with Zenith Bank.

A breakdown of the recovery shows that N616.7m was recovered from Flank Power Resources Limited, while N211million was recovered from GMFD Ventures Limited.

It was discovered that between 2018 and 2019, Flank Power Resources Limited received the funds from the NDDC, through its account number:1015642852 , while GMFD received through account number: 1014657819 both of which are domiciled in Zenith Bank Plc.

READ ALSO  Low key Inauguration not Nigeria Problem, Reduced Corruption and fix the economy - Omini Replies Presidency, APC

The payments were for desilting of some areas of Niger Delta. The jobs were not done.

Besides the contract values were inflated.

The sum of N616, 679, 098.32 recovered from Flank Power Resources Limited was facilitated through 62 Zenith Bank drafts in favour of the EFCC Recovered Funds Account with the Central Bank of Nigeria, CBN, while the N211million from GMFD came through 22 Zenith Bank drafts in favour of the same account.

The EFCC secured the interim forfeiture of the money on June 8, 2020 and its final forfeiture was granted by the court on June 29, 2020.

READ ALSO  Obubra born Ezama Castro emerges CNPP South South Chairman

RSS
Jobs Vacancies in Nigeria


Like it? Share with your friends!

Jake Clifford

Jake Clifford is a Nigerian Born blogger and a fast growing Journalist, whose aim is to inform Nigerians with happening across Nigeria. Send story tips to him via [email protected] or

0 Comments

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.