The Federal High Court in Abuja on Monday set aside its interim forfeiture order against properties linked to the former Managing Director of Warri Refining and Petrochemical Company, Jimoh Olasunkanmi Yisawu, faulting the Economic and Financial Crimes Commission’s (EFCC) “watery evidence” alleging proceeds of unlawful activities.
Justice James Omotosho dismissed the EFCC’s application for the final forfeiture of Yisawu’s funds and properties domiciled in Lagos, holding that the Commission “failed totally” to establish that Yisawu’s income, after serving the Nigerian National Petroleum Corporation (NNPC) for 32 years, was disproportionate to the value of the properties.
The Commission had obtained an interim forfeiture order against the properties and funds amid a separate eight-count criminal charge bordering on alleged money laundering involving N1.339 billion, which is pending before Justice Inyang Ekwo.