Court Orders Money Recovered from Ngwuta Deposited with CBN

Justice John Tsoho of a Federal High Court in Abuja, Thursday, ordered money recovered from the home of Supreme Court Judge, Justice Sylvester Ngwuta to be deposited with the Central Bank of Nigeria, pending the determination of the case.
Justice Tsoho gave the order after admitting the bags and boxes containing the money as exhibit, marked 11 A-I
Justice Ngwuta is facing a 12-count charge, including money laundering allegations of retention and concealment of various sums of money in local and foreign currencies, allegedly recovered from him during the raid of the operatives of the Department of State Service on October 8, 2016, in a “sting operation” that involved seven judges.
Ngwuta is also being accused by the Federal Government of giving various cash sums of money above the statutory threshold to his building contractor for the building of various houses in his home state, Ebonyi State, without going through a financial institution.
At the resumed hearing, Thursday, the court after admitting the nine bags and boxes containing the money recovered during the raid, Justice Tsoho ruled that the money be kept with Central Bank of Nigeria.
Earlier, the lead prosecuting counsel, Mrs Olufemi Fatunde, led the fifth prosecuting witness, John Otaze, an operative of the Department of State Security to tender the bags and boxes as exhibit.
Otazi held he led a team of DSS operatives to conduct a search on the residence of the defendant.
He said various sums of money in both local and foreign currencies were recovered, which include N35m, £35,915, $319,096, 50 South Africa rands, €280,000 (Euros), 380 Dirhams and 420 Dalases
Meanwhile, the court adjourned till May 26 for cross examination of the witness by the defendant’s counsel, Chief Kanu Agabi.

Author: News Editor

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