Largest estate forfeited to FG belongs to Emefiele

Former Central Bank Governor Godwin Emefiele has been identified as the owner of a massive estate in Abuja, comprising 753 duplexes, which has been forfeited to the Economic and Financial Crimes Commission (EFCC).

According to human rights activist Omoyele Sowore, Emefiele’s ownership of the estate was confirmed to him through grapevine after a court ruling on Monday. Sowore had earlier criticized the EFCC for refusing to disclose the identity of the owner of the seized property.

Emefiele, who is currently standing trial on several corruption charges, including those related to the new naira redesign, has been accused of acquiring the property with proceeds of unlawful activities. The EFCC relied on the Advance Fee Fraud and Other Fraud Related Offences Act No 14, 2006, and Section 44 (2) B of the Constitution of the Federal Republic of Nigeria to secure the forfeiture of the property.

The massive estate, measuring 150,500 square meters, is located in the Lokogoma District of Abuja and is valued at an undisclosed amount. The forfeiture of the property is considered the single largest asset recovery by the EFCC since its inception in 2003.

Sowore has expressed outrage over the EFCC’s handling of the case, accusing the commission of being afraid to name and shame high-profile individuals accused of corruption.

He noted that the EFCC has been quick to publish the names and photos of smaller-time offenders, such as “yahoo boys,” but has been reluctant to do the same for more powerful individuals.