TETFund’s deal: Court vacates forfeiture order on $378,000, exotic car linked to APC guber aspirant

A Federal High Court in Abuja has overturned an earlier ruling that mandated the temporary forfeiture of $378,000 and a Mercedes Benz GLS 600 Maybach to the Federal Government.

The funds and vehicle were linked to Paul Chukwuma, the Managing Director and Chief Executive Officer of Fides Et Ratio Academy Limited, who is also a gubernatorial aspirant for the All Progressives Congress (APC) in Anambra State.

Delivering the ruling, Justice Emeka Nwite stated that the Independent Corrupt Practices and Other Related Offences Commission (ICPC) failed to disclose key information when securing the initial forfeiture order.

The judge concurred with defense counsel Afam Osigwe, SAN, who argued that the ICPC neglected to inform the court about an ongoing case in a different court where parties had been directed to maintain the status quo.

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“It is not in doubt that the suit is connected to the present proceedings,” Justice Nwite noted, emphasizing that the ICPC’s actions amounted to an abuse of court process.

The ruling also ordered the removal of a restriction placed on the Zenith Bank account of Fides Et Ratio Academy Limited and the immediate release of the detained Mercedes Benz GLS 600 Maybach.

Earlier, on January 6, Justice Nwite had granted an interim forfeiture order following an ex-parte motion by ICPC counsel Osuobeni Akponimisingha. The commission was also instructed to publish a notice inviting interested parties to contest the forfeiture.

The case stemmed from an ICPC investigation into an alleged misappropriation of Tertiary Education Trust Fund (TETFund) payments linked to an ICT service agreement. The commission alleged that funds were diverted in the process, leading to a petition and subsequent legal action.

However, Chukwuma, through his counsel, filed a motion on January 9 challenging the forfeiture, arguing that the ICPC had pursued the order improperly while a related charge was already pending in another court.

Justice Nwite’s latest ruling sets aside the forfeiture, emphasizing that courts retain the inherent power to reverse decisions obtained without full disclosure of relevant facts.