THE Economic and Financial Crimes Court has ordered the forfeiture of over US$2.5 million held in seven bank accounts at ECO Bank Zambia Limited, belonging to some Nigerian nationals and a Zambian, to the state, as the funds are proceeds of crime. The judgement follows an application by Director of Public Prosecutions Gilbert Phiri to the High Court for the forfeiture of the money. In a judgment delivered by Justice Vincent Siloka on behalf of Justices Pixie Yangailo and Anne Malata Ononuju, the court stated that the bank accounts were linked to Nigerian nationals and a Zambian. “This matter was commenced on September 15, 2023, by way of originating notice of motion accompanied by an affidavit in support and skeleton...
