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A Federal High Court in Kaduna, has ordered the interim forfeiture of N1.373 billion to the federal government following allegations that the funds were diverted into the account of Kaduna Marts JV Nigeria Limited.
Justice G. M. Kabara, the presiding judge, issued the order on February 28, 2025, following an application filed on February 14, 2025, by the Federal Government.
The court documents made available to journalists on Wednesday in Kaduna indicated that the forfeited amount was lodged in the Independent Corrupt Practices and Other Related Offences Commission (ICPC) recovery account at the Central Bank of Nigeria (CBN).
The money, according to the documents, was part of an ongoing probe into financial dealings involving Kaduna State Government officials between 2015 and 2023.
Sources said the funds were recovered in the course of investigations into suspected misappropriation by state officials.
The source said, “The forfeited amount was recovered in the course of an ongoing investigation into officials of the Kaduna State Government.”
As part of the legal proceedings, the court has directed that a notice be published in two national newspapers, inviting any interested parties to present reasons why the funds should not be permanently forfeited to the Federal Government.
“The defendant is hereby ordered to temporarily forfeit the sum of N1,373,180,510.07 to the federal government of Nigeria,” the court ruled.
The case, marked FHC/KD/C5/28/2025, was brought under the Advance Fee Fraud and Other Related Offences Act, 2006, and the Proceeds of Crime (Recovery and Management) Act, 2022.
The defendant, Indo Kaduna Marts JV Nigeria Limited, has been charged accordingly.
The judge adjourned the matter to April 8, 2025.
John Shiklam
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