Fraudster Forfeits N40m Bitcoin, iPhones to FG

By Tapre Timine
3 Min Read

The resumption of a fraudulent suit at the Federal High Court sitting in Lagos on Friday linking to a suspected fraudster ordered the final forfeiture of 1.982, 022, 84 units of Bitcoin worth N40m to the Federal Government.

In addition, Justice Nicholas Oweibo ordered the final forfeiture of iPhone 12 Pro Max, iPhone 7, and all funds found in two bank accounts of the suspect, Alkali Tanimu, aka Yahoo Boy.

The court had on July 19, 2022, made an interim order of forfeiture of the listed items, which have now been finally forfeited to the Federal Government.

Justice Oweibo made the final forfeiture order on Friday after listening to the submission of Sulaiman I. Sulaiman of the Economic and Financial Crimes Commission, who moved and argued the application for forfeiture and the affidavit in support and a written address.

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Sulaiman said the application followed Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 of 2006 and Section 44 (2)(B) of the Constitution of the Federal Republic of Nigeria 1999 as Amended.

The items sought to be forfeited are reasonably suspected to be earnings of illegal activity and the court has the statutory powers under the provision of Section 17 of the Advance Fee Fraud and Other Related Offences Act, 2006 to forfeit them.

More so, he stated that the said intelligence report was analysed, found worthy, and assigned to his team for discreet investigation and report.

The deponent also averred that the two phones were taken to the forensic laboratory where they were analysed and fraudulent documents were printed out from them, which he duly endorsed.

He again explained that when confronted with those facts, the suspect volunteered to make his extra-judicial statement under words of caution, wherein he confessed to being involved in internet fraud.

After listening to the EFCC’s counsel, Justice Oweibo passed the judgment, saying that:

The application is meritorious and the same ought to be granted, and it’s hereby granted.”

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