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Tuesday, February 27, 2024

EFCC Traces Accused Secret Account to Bermuda Island

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The Economic and Financial Crimes Commission, EFCC, has traced and taken possession of One Hundred and three thousand, Seven Hundred and Sixty Two Dollars, ($103,762.00) invested in Bermuda Island by a retired Nigerian public officer.

The taking over of the asset owned by the public officer who is being prosecuted by the EFCC at a Federal High Court sitting in Abuja, followed a Court Order granted by an FCT High Court on October 17, 2012.

Bermuda Island is an overseas territory of the United Kingdom in the North Atlantic Ocean, located off the east coast of the United States, it is situated around 1,770 km (1,100 mi) Northeast of Miami, Florida.

EFCC action is in compliance with Section 6(e) of the EFCC Establishment Act 2004, which empowers the Commission to adopt measures to identify, trace, freeze, confiscate or seize proceeds derived from terrorist activities, economic and financial crimes related offences or the properties the value of which correspond to such proceeds.

The commission is hereby advising all citizens that there is no hiding place for any Nigerian who may want to courier the proceed of illicit wealth to foreign lands as the Commission working with relevant intelligence units, has the capacity to trace and seize such proceed.

Among the three prayer granted the EFCC by the court is “An order freezing the said sum of ($103,762.00) One Hundred and three thousand, Seven Hundred and Sixty Two Dollars, being the property of the Accused/Respondent held in an Investment Vehicle in Bermuda, with an initial deposit of $100,000 (One Hundred Thousand Dollars, a partial redemption of which the Accused /Respondent has requested for”.

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