Major Blow As Emefiele Loses Properties Worth Over N12B To FG

The Federal High Court in Lagos has issued a final forfeiture order concerning properties valued at N11.14 billion and N1.04 billion allegedly linked to the former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.

Justice Chukwujekwu Aneke made this ruling after considering a motion presented by the Economic and Financial Crimes Commission (EFCC), represented by counsel Chineye Okezie.

Initially, on June 5, 2024, the court had granted an interim forfeiture of the properties following a motion filed by Rotimi Oyedepo (SAN) on behalf of the EFCC. Oyedepo had asserted that Emefiele had acquired the properties through proxies, using funds suspected to be from fraudulent activities. The EFCC implicated two current and one former CBN staff as accomplices in the alleged fraud.

The properties, primarily situated in upscale areas of the Federal Capital Territory (FCT), Abuja, were listed in two schedules by the EFCC. Justice Aneke mandated the EFCC to publish the forfeiture order in a national newspaper to allow any interested parties to contest the decision. However, upon the resumed hearing on Friday, June 21, no objections were raised.

Based on the evidence presented, including a 41-paragraph affidavit, 19 exhibits, and a written address by Okezie, Justice Aneke granted the motion for permanent forfeiture. The properties listed in Schedules A and B, which include shops, apartments, lands, and other assets, were deemed to have been acquired with proceeds from unlawful activities, according to the court’s findings.