The Economic and Financial Crimes Commission (EFCC) on Monday said it had secured the final forfeiture of N827, 679,098.32 from GMFD Ventures Limited and Flank Power Resources Limited.

The two companies are linked to contractors with the Niger Delta Development Commission (NDDC).

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The forfeiture order, according to the EFCC, was granted by Justice Chukwujekwu Aneke of the Federal High Court, Ikoyi, Lagos State on June 29.

EFFC made the disclosure in a statement signed by its spokesperson, Dele Oyewale.

“A breakdown of the recovery shows that N616, 679, 098.32 was recovered from Flank Power Resources Limited, while N211million was recovered from GMFD Ventures Limited.

“It was discovered that between 2018 and 2019, Flank Power Resources Limited received the funds from the NDDC, through its account number:1015642852, while GMFD received through account number: 1014657819 both of which are domiciled in Zenith Bank Plc for desilting contracts which aside from being inflated, weren’t executed, but diverted and laundered,” the statement read in part

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