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Court Orders Forfeiture Of Recovered $43m, £27,800, N23m To FG

Justice Muslim Hassan of the Federal High Court in Lagos yesterday ordered the temporary forfeiture of the sums of $43,449,947, £27,800 and N23,218,000 recovered by the Economic and Financial Crimes Commission, EFCC, from an apartment in the Ikoyi area of Lagos on Wednesday to the federal government.Justice Hassan made the order after listening to an ex-parte application filed by the EFCC through its counsel, Rotimi Oyedepo praying the court that the funds be forfeited to the federal government pending investigation. Oyedepo had told the court that the commission received intelligence report from an undisclosed source that various sums of money was kept in an apartment located at 16, Osborne Road, Ikoyi. The lawyer also told the court that upon the receipt of the information, the anti-graft agency approach the court to obtain a search warrant to enable it conduct a search on the apartment. Oyedepo further submitted that after the search the EFCC recovered the sums of $43,449,94...
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NPDC Targets 500,000 Barrels Of Crude Oil Per Day Production

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The Nigerian Petroleum Development Company (NPDC), one of the upstream subsidiaries of the Nigerian National Petroleum Corporation (NNPC), will increase its daily crude oil production to 500,000 barrels per day before 2022. This target was announced by the Group Managing Director of the NNPC, Dr. Maikanti Baru, during the inauguration of the board of directors of the company in Abuja. Addressing the members, the GMD who also doubles as Chairman of the board charged them to grow the company’s assets and ensure that the 500,000 barrels per day crude oil production target is met by 2022”. He disclosed that the company was currently supplying 50 percent of the West African Gas Pipeline system gas, adding that it was the in thing to have more gas assets while commending the company for leaving up to expectations. Dr. Baru directed that NPDC’s Memorandum of Understanding (MOUs) with host communities should be tied to the availability of the lines saying “as stakeho...
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50-year-old man remanded over alleged attempted murder

A 50- year- old man, Sunday Okoro, was on Wednesday remanded in prison custody by a Shomolu Magistrate’s Court in Lagos over an alleged attempt to murder one Dele Olukayode. The Magistrate, Mrs B.O. Osunsanmi, ordered that the accused should be remanded in prison custody, until he secures his bail either through the High Court or on the advice of the State Director of Public Prosecutions (DPP). The prosecutor, Mr Thomas Muhammed, had earlier told the court that the defendant allegedly poured a liquid substance suspected to be a petrochemical, on the complainant and set him ablaze after an argument. Muhammed said the action of the defendant endangered the life of the complainant, who he said, was currently receiving treatment in an undisclosed hospital in Lagos. He said that the offence was committed on December 11 at about 10.30 a.m. at No. 56, Jagunmolu Street, Bariga in Lagos, stressing that the offence contravened Section 228 of the Criminal Law of Lagos State, 2011. The p...
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