The federal high court in Lagos has ordered the final forfeiture of N1,168,602,877, £35,070, and $392,818 recovered from Muiz Tijani Adeyinka, a former employee of First Bank of Nigeria (FBN). The Economic and Financial Crimes Commission (EFCC) had investigated Adeyinka for alleged fraudulent transactions within and outside the bank, leading to the interim forfeiture of the funds in November 2024. The court granted the final forfeiture after the EFCC complied with the stipulated conditions. The recovered funds are expected to be returned to FBN.
The federal high court in Lagos has ordered the final forfeiture of N1,168,602,877, £35,070, and $392,818 recovered from Muiz Tijani Adeyinka, a former employee of First Bank of Nigeria .
In November 2024, the court ordered the interim forfeiture of the funds and directed that a notice be published in a national newspaper. The EFCC counsel said the investigation revealed that the principal suspect is Adeyinka, a former employee of the bank, who was attached to the settlement office of the financial institution.
“Investigation revealed that Muiz Tijani Adeyinka, who is the principal suspect, is a former staff of First Bank Nigeria Plc,” the EFCC counsel told the court.
FORFEITURE MONEY LAUNDERING FRAUD FBN EFCC
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