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Nigeria seizes funds in Bermuda

Financial crime investigators in Nigeria have seized $103,762 invested in Bermuda by a retired Nigerian public officer.The country’s Economic and Financial Crimes Commission is prosecuting the individual through its Federal High Court, according to the Commission. It seized the funds following an order from that court on October 17.A press statement issued on the matter did not name the former public officer in question.The Commission is empowered to adopt measures to identify, trace, freeze, confiscate or seize proceeds derived from terrorist activities and economic and financial crimes-related offences, according to the statement.It added: “The Commission is hereby advising all citizens that there is no hiding place for any Nigerian who may want to courier the proceed(s) of illicit wealth to foreign lands as the Commission (is) working with relevant intelligence units, (and) has the capacity to trace and seize such proceed(s).Attempts to glean further information from the EFCC were unsuccessful by press time. The Ministry of Finance and Bermuda Police Service declined requests for comment.Useful website: www.efccnigeria.org.