Appeal Court upholds forfeiture of N293.9m, properties linked to ex-Military General Atewe

The Court of Appeal sitting successful Lagos has upheld the last forfeiture of N293.97 million, concern assets and respective properties linked to a retired subject officer, Major General Emmanuel Jebe Atewe.

In a unanimous judgement delivered by Justice Boloukuromo Moses Ugo, the appellate tribunal dismissed Atewe’s entreaty and affirmed an earlier ruling of the Federal High Court ordering the assets to beryllium permanently forfeited to the Federal Government.

The forfeited assets see N293.97 cardinal successful cash, 30,000 MTN linked concern units managed by Stanbic IBTC Asset Management Limited, plots of onshore successful assorted locations crossed Abuja, including Jahi, Kuje, Sabon Lugbe and the Outer Northern Expressway axis, arsenic good arsenic a commercialized spot successful Yenagoa, Bayelsa State.

The Economic and Financial Crimes Commission, EFCC, had traced the assets to funds allegedly diverted from allocations made to the Joint Task Force, Operation Pulo Shield.

According to the anti-graft agency, investigations revealed that astir N8.537 cardinal meant for the task unit was allegedly siphoned done a web of companies and individuals acting arsenic proxies.

The committee further alleged that respective companies received payments for contracts and services that were ne'er executed, with portions of the funds allegedly utilized to get properties and different assets linked to Atewe.

The EFCC besides d...