By The Federal High Court in Lagos has issued a final forfeiture order to the Federal Government for properties valued at over N11.14 billion and an additional N1.04 billion linked to the former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.
Justice Chukwujekwu Aneke made the ruling after considering an application presented by the Economic and Financial Crimes Commission (EFCC), argued by counsel Chineye Okezie.
Earlier on June 5, 2024, the court had granted a temporary forfeiture of the properties based on a motion filed and argued by Senior Advocate of Nigeria, Mr. Rotimi Oyedepo, representing the EFCC. Oyedepo informed the court that Emefiele was suspected of acquiring the properties through proxies, using proceeds of fraudulent activities.
The EFCC identified two current and one former CBN staff as accomplices in the alleged fraud: Obayemi Oluwaseun Teben, Akomolafe Adebayo, and Olubunmi Makinde, a former CBN staff, among others.
The properties, mostly situated in prime locations within the Federal Capital Territory (FCT), Abuja, were listed by the EFCC in two schedules, A and B.
Justice Aneke’s ruling stated, “After careful consideration of the application and submissions of counsel, the court hereby orders as follows: a final forfeiture of properties listed in Schedule A, reasonably suspected to have been acquired with proceeds of unlawful activities, including shops and apartments in Cadastral Zone Maitama and Wuse, to the Federal Government of Nigeria.”
He continued, “Additionally, a final forfeiture order is made for properties listed in Schedule B, traced to proceeds of unlawful activities, to the Federal Government of Nigeria.”
