Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.

 

Court convicts companies of laundering Patience Jonathan’s $15.5 million

03 November 2016, 06:28

Lagos - A Federal High Court in Lagos on Thursday convicted four companies of laundering $15.5m kept in their accounts with Skye Bank.

The money belongs to the former First Lady, Patience Jonathan.

The companies – Pluto Property and Investment Company Limited; Seagate Property Development & Investment Co. Limited; Trans Ocean Property and Investment Company Limited and Avalon Global Property Development Company Limited – are linked with a former Special Adviser on Domestic Affairs to ex-President Goodluck Jonathan, Waripamo-Owei Dudafa.

The companies were arraigned by the Economic and Financial Crimes Commission (EFCC) for charges bordering on money laundering.

News 24 recalls that the companies had in September pleaded guilty before the court.

But wife of ex-President Goodluck Jonathan had sued the EFCC and Skye Bank, claiming ownership of the $15.5m.

Also read: Patience Jonathan begs EFCC to unfreeze her account

On Thursday, Justice Babs Kuewumi convicted the four companies of laundering the $15.5m.

While convicting the companies of money laundering, the judge said he was satisfied that the EFCC had proven its case beyond reasonable doubt.

The judge, however ,declined to rule on the application by the EFCC, urging the court to order the forfeiture of the money to the Federal Government.

Justice Kuewumi said he  would reserve decision on the money till the end of the case, noting that there was still Patience Jonathan’s suit, where she is claiming ownership of the money.

The EFCC had since frozen the $15.6m found in the four companies’ accounts

- News 24

NEXT ON NEWS24 NIGERIAX

Fire guts popular Benin mall

11 December 2016, 12:12
&nbps;

Read more from our Users

Submitted by
Isaac Asabor263
Separating kitchen politics from ...

Like everyone else, I believe that the most popular definition of democracy is “government of the people, by the people and for the people”. Read more...

Submitted by
Bethel Tanifo
Ministry of Niger Delta Affairs, ...

Like NDDC Unlike MONDA. This notion is an intuition that does not portend political participation, affiliation, intrusion or aggression but a submission with the intention of completion of the previous administration's noble vision. Read more...

Submitted by
Bethel Tanifo
Nigerian Constitution versus Corr...

The problems of Nigeria is not in its conventional composition, formation, functionality, constitution or treaty, while the solutions are not disintegrations as promulgated by some faiths fanatics and bigotries.  Read more...

Submitted by
Abdulsalam Jubril
Much Ado about Trump’s Presidency

It was unbelievable when the social and mainstream media all over the world began airing the breaking news of Donald Trump’s victory in the most contentious US Presidential elections in recent years. Read more...

Submitted by
Mike Daemon
Nigerian author highlights gay ch...

A new novel by a prolific young Nigerian author features gay characters, which could help increase the visibility of the gay community and possibly lead to greater understanding of LGBT Nigerians. Read more...

Submitted by
Isaac Asabor263
Your Excellency, I will call you ...

Your Excellency, Governor Adams Oshiomhole, as a leader that pays attention to details, I understand that the odd title of this piece would definitely arouse your curiosity.  Read more...