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Tuesday, November 5

ICPC seizes N2.4 billion belonging to former PPMC chief

The federal high court in Abuja has granted the Independent Corrupt Practices and Other Related Offences Commission (ICPC) interim approval to freeze about N2.4 billion the agency said was illegally acquired by a former Managing Director of the Pipelines and Product Marketing Company (PPMC), Mr. Haruna Momoh.

The ICPC Monday said it also launched the process to confiscate some real estate assets traced to Mr. Momoh, who served as Managing Director of the PPMC under the supervision of the Petroleum Minister, Mrs. Deziani Alison-Madueke, who is also facing multiple charges of corruption.

The anti-graft agency said the moneys were where domiciled in four different banks in both local and hard currencies.

At least four bank accounts holding both local and hard currencies were also traced to Mrs. Eileen Ochuko Momoh, with a combined sum of N469.2 million, the agency said.

Momoh is facing multiple charges in a federal court in a separate matter being prosecuted by the EFCC.

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