UPDATED: Air Force Chief, Ebong, forfeits N510m to FG over alleged fraud

A Federal High Court in Abuja has granted an order of interim forfeiture of N510million contained in an account belonging to a company – Elioenai International College, allegedly owned by former Commander of the Presidential Air Fleet , Air Vice Marshal Uko Etim Ebong.

The judge said: “An order is hereby made for the interim forfeiture of the sum of N510,000,000 in Sterling Bank account No: 0029581583 recovered by the applicant, which funds are reasonably suspected to be proceeds of unlawful activities.” “Magnificent 5 Ventures Ltd is a company registered with the CAC. Though directors of the company on paper are Mrs. Ebong Mercy Uko and Ekpo Ubong Asuquo ; AVM Ebong controlled the financial dealings of the company.

“The payments were made into the Sterling Bank Plc Account No. 0026142493 operated by Magnificent 5 Ventures Ltd. Mrs. Ebong Mercy Uko and her brother Ekpo Ubong Asuquo are also the signatories to the said Bank account of Magnificent 5 Ventures Ltd.

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