Homepage - Online Entertainment and Lifestyle Magazine in Nigeria
www.happenings.com.ng
Patience Jonathan
Patience Jonathan
Latest

How Patience Jonathan Lost N12 Billion Loot To Federal Government

Read how Patience Jonathan lost loot worth 12 billion naira to the federal government.   

Funsho Akinwale

Former First Lady of Nigeria, Dame Patience Jonathan, on Monday, lost about 12 billion naira to the Federal Government following the permanent seizure ordered by the Federal High Court sitting in Lagos.

Leading to the ruling, Justice Mojisola Olatoregun noted that the wife of the former president, Goodluck Jonathan, was unable to prove that the money was legitimately earned, hence she ordered the seizure to the government.

The judge added that the defendant could not account precisely for the source of the money, stressing that the second defendant’s failure to dispel the suspicion of how the money was found in Globus Network Limited was part of the reasons the money was seized.

Olaturegun, before giving her final judgement, addressed the court, noting that the overwhelming evidence presented by the Economic and Financial Crimes Commission indicated that fake names were used to lodge the stolen money into the accounts and non-payment of tax for the money was an indication that the money was illegal enrichment.

The judge, therefore, forfeited the money to the Federal Government.

“The failure of the respondents to show evidences why the sums of N9.2bn and 8.4m USD should not be forfeited led to the seizure,” the judge said.