March 05, (THEWILL) – A Federal High Court sitting in Kaduna has granted an interim forfeiture order on N1,373,180,510.07 allegedly diverted into the private account of Indo Kaduna Marts JV Nigeria Limited.
Justice G. M. Kabara issued the order on February 28, 2025, in response to an ex parte application filed by the Federal Government, through the Independent Corrupt Practices and Other Related Offences Commission (ICPC), on February 14, 2025.
The case, marked FHC/KD/C5/28/2025, was brought under the provisions of the Advance Fee Fraud and Other Related Offences Act, 2006, the Proceeds of Crime (Recovery and Management) Act, 2022, and relevant sections of the 1999 Constitution (as amended).
According to court documents, the funds were recovered into the ICPC’s recovery account domiciled with the Central Bank of Nigeria as part of an ongoing investigation into financial irregularities involving officials of the Kaduna State Government between 2015 and 2023.
Justice Kabara directed the Federal Government to publish a notice in two national newspapers, inviting any interested parties—whether individuals or corporate entities—to appear before the court and show cause why the funds should not be permanently forfeited to the government.
The case has been adjourned to April 8, 2025, for further proceedings.
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