1.982, 022, 84 bitcoins worth N40m, property owned by an internet fraudster, were forfeited to the federal government on Friday by a Lagos Federal High Court.
A suspected internet fraudster, Alkali Tanimu, better known as Yahoo Boy, was also ordered to forfeit iPhone 12 Pro Max, iPhone 7, and all funds in two bank accounts.
The court ordered the forfeiture of the listed items on July 19, 2022, and they have now been forfeited to the 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.
According to Sulaiman, the application was filed under Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 of 2006 and Section 44 (2)(B) of the 1999 Constitution of the Federal Republic of Nigeria.
Under Section 17 of the Advance Fee Fraud and Other Related Offences Act, 2006, the court has statutory power to forfeit the items reasonably suspected to be proceeds of illegal activity.
According to him, the intelligence report was reviewed, deemed worthy, and assigned to his team for a discreet investigation.
According to the deponent, the two phones were taken to a forensic laboratory where they were analysed and fraudulent documents were printed, which he endorsed.
He further stated 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 held, “The application is meritorious and the same ought to be granted, and it’s hereby granted.”
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