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Steve Ogidan, a former National Coordinating Consultant of the Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), has had N1.582 billion linked to him forfeited to the federal government by the Supreme Court. The EFCC had earlier alleged that Ogidan received bribes from consultants he was engaged to monitor and supervise while serving as NIRSAL's National Coordinating Consultant. The case followed an EFCC investigation, which the commission said uncovered reasonable grounds to suspect that the N1.582 billion represented proceeds of unlawful activities.

The EFCC investigation showed that between December 2015 and June 2021, eight companies linked to Ogidan received a combined N9.6 billion from NIRSAL. The companies are Successory Nigeria Limited, Beresh Consulting Limited, Blue Accord Nigeria Limited, Global Knowledge Consulting Limited, Freshvine Agribiz Limited, Richtigen Limited, O Stevens Consulting, and Proteus and Enterprise Aesthetics. According to the EFCC, the payments made to consultants and companies linked to them were proceeds of corrupt practices, an allegation that has now been upheld by the country's highest court.

The NIRSAL was established by the Central Bank of Nigeria to encourage lending to the agricultural sector by reducing the risks faced by financial institutions. However, the agency has come under scrutiny over consultancy payments and contract awards made between 2015 and 2021. The forfeiture case involving Ogidan is one of the high-profile cases arising from the EFCC's investigation into those transactions.

The anti-graft agency has maintained that the payments made to consultants and companies linked to them were proceeds of corrupt practices, an allegation that has now been upheld by the country's highest court. The EFCC said its investigation also showed that Ogidan returned the disputed funds as part of an out-of-court settlement, a development the court said further reinforced the trial court's decision to order the final forfeiture. The court also ordered Ogidan to pay N5 million to the EFCC as the cost of the action.

The Supreme Court's decision is a major blow to Ogidan, who had earlier challenged the decision at the Court of Appeal. However, the Court of Appeal dismissed the appeal and affirmed the forfeiture, and now the Supreme Court has upheld that decision. The case has been a long and winding one, with multiple court appearances and appeals.

The EFCC will now be expected to follow up on the Supreme Court's ruling and take concrete steps to recover the forfeited funds. The agency has maintained that the funds will be used to compensate victims of corruption and to fund anti-corruption initiatives. The forfeiture case is a major victory for the EFCC and its efforts to crack down on corruption in the country.

The Supreme Court found Ogidan's appeal to be without merit and dismissed it.

The decision is a significant one, given the size of the funds involved and the fact that it is one of the high-profile cases arising from the EFCC's investigation into consultancy payments and contract awards made between 2015 and 2021.

The NIRSAL was established by the Central Bank of Nigeria to encourage lending to the agricultural sector by reducing the risks faced by financial institutions. However, the agency has come under scrutiny over consultancy payments and contract awards made between 2015 and 2021.

NIRSAL's History

NIRSAL was established in 2014 as part of the Central Bank of Nigeria's initiatives to improve access to credit for the agricultural sector. The agency was given the mandate to encourage lending to the agricultural sector by reducing the risks faced by financial institutions. However, the agency has come under scrutiny over consultancy payments and contract awards made between 2015 and 2021.

The EFCC investigation showed that between December 2015 and June 2021, eight companies linked to Ogidan received a combined N9.6 billion from NIRSAL.

Key Facts

  • N1.582 billion linked to Ogidan forfeited to FG
  • Ogidan ordered to pay N5 million to EFCC
  • Eight companies linked to Ogidan received N9.6 billion from NIRSAL
  • Decision is a major blow to Ogidan
  • Supreme Court's ruling will be followed up by EFCC