ICPC Case: A primary school teacher and others forfeit N120 million and cars to the Federal Government

By Adeleye Kunle

A Federal High Court in Abuja has ordered the final forfeiture to the Federal Government of N120 million traced by the Independent Corrupt Practices and Other Related Offences Commission to a primary school teacher, Mrs. Roseline Egbuha, and her accomplices (ICPC), TrackNews reports.

According to a statement issued by the commission, the forfeited money and cars are part of the N540 million proceeds of crime traced to Mrs. Egbuha, a teacher at Ozala Primary School in Abagana, Anambra State.

“The teacher, who was earning N76,000 per month at the time of her arrest by the ICPC in 2020, had N540 million stashed in her Guaranty Trust Bank account.

Further ICPC investigations revealed her alleged involvement in money laundering, prompting the Commission to impose a Post-No-Debit (PND) on the account.

The PND, however, was lifted by Egbuha and her associates with a court order allegedly from a Federal High Court in Abuja, and the money was quickly split and moved into multiple bank accounts owned by Bureau de Change operators and private individuals.

The Commission charged the accomplices – one James Erebouye, Emon Okune, Chisom Iwueke, Alonge Ojo, Maureen Chidimma, Owoyemi Mayowa, and Ejeaka Ifeoma, as well as two private companies – with engaging in fraudulent activities and warehousing proceeds of crime.

Adesina Raheem, counsel to the ICPC, claimed in a motion ex parte filed in 2021 before Justice D. U. Okorowo that the funds were the proceeds of illegal activities stashed away in six new generation banks by Egbuha and her associates. He asked the court to order the money and cars forfeited to the federal government.

After hearing arguments from counsel for the ICPC and the respondents, Justice Okorowo ruled that funds discovered in seven individual bank accounts, two private companies, and the items should be forfeited to the Federal Government.

The forfeiture order includes N30.8 million in Dorason Construction Ltd’s Polaris Bank account, N17.4 million in James Erebouye’s Sterling Bank account, and N16.4 million in Dybako and Sons Nig Ltd’s Zenith Bank account.

Another accomplice, Ojo Alonge, will also forfeit N14.1 million to the Federal Government, which was traced to two separate accounts with First Bank and Ecobank. Owoyemi Mayowa, for her part, surrendered N7.1 million in Zenith Bank.

Furthermore, the final forfeiture order includes the sums of N8.2 million, N9.7 million, N6.5 million, and N122,100 held in various bank accounts by Emon Okune, Chisom Iwueke, Maureen Chidimma, and Ejeaka Ifeoma.

The respondents also forfeited a Toyota Lexus and a Venza sport utility vehicle.