The Federal High court, Ikoyi, in Lagos Island has ordered the confiscation of the approximately N281 million found in the account of Mr. Obinwanne Okeke also known as Invictus Obi.
This directive was given on Thursday following an ex-parte order by the Economic and Financial Crimes Commission (EFCC).
The agency had put up an argument that the money was warehoused in the accounts belonging to the Invictus Oil and Gas Limited and Invictus investment Limited, stating that the money was actually made from unlawful activities.
The Presiding Judge, Justice Rilwan Aikawa ruled that the money be forfeited to the Nigerian government.
The 31-year-old Invictus Obi had previously been named in Forbes as one of Africa’s outstanding entrepreneurs under 30 in 2016.
He was, however, arrested by the Federal Bureau Of investigation in August 2019. He is currently standing trial in America along with 77 others for an alleged $11m fraud.