Posted on Feb 24, 2020
A FORMER Director of Navy Accounts, Rear Admiral Tahir Yusuf, has permanently forfeited about N500 million to the Federal Government.
Rear Admiral Yusuf, who was second-in-command to the Chief of Account and Budget, Naval Headquarters (NHQ),, according to the Economic and Financial Crimes Commission (EFCC), held the cash in seven accounts with two banks.
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.
The total amount Yusuf forfeited to the Federal Government as a result of an order of permanent forfeiture issued on February 20, 2020 by Justice Ijeoma Ojukwu of the Federal High Court, Abuja, is N392,695,857.87; $91,955.38; £15,050.
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.
The court had, on October 26, 2018, in a ruling on an application by the EFCC, granted an order for interim forfeiture of the money and ordered the anti-graft agency to publish the order in a national daily for any interested party to claim the money.