Ex-Naval director forfeits N500m to Fed Govt
A FORMER Director of Navy Accounts, Rear Admiral Tahir Yusuf, has permanently forfeited about N500 million to the Federal Government.
Five of the accounts, the EFCC said in court documents, were kept in the name of a company – Bitmas Enterprises – while the other two accounts were held in Yusuf’s name in another bank. Justice Ojukwu made the order of permanent forfeiture while ruling on an application to that effect filed by the EFCC.The court disregarded claim by Yusuf, who was saddled with verifying and authenticating of documents before payments and keep custody of Nigeria Navy balance, that he made the money through legitimate means.
It was in reaction to the advertisement that Yusuf filed a counter-affidavit, claiming ownership of the money and arguing that the funds were from legitimate sources.
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