The Federal High Court in Lagos has ordered the permanent forfeiture of $2.045 million, seven high-value properties, and shares linked to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele. The ruling, issued on Friday by Justice Deinde Dipeolu, finalizes an interim forfeiture order granted in August.
Justice Dipeolu found that Emefiele and associated parties failed to provide documentation linking the properties and assets to legitimate sources of income from his previous roles at Zenith Bank and the CBN. “The interested party has failed to demonstrate any lawful interest in the properties,” Justice Dipeolu stated, adding that these assets are “reasonably suspected to have been acquired with proceeds of unlawful activities.”
The properties forfeited include two duplexes on Hakeem Odumosu Street, Lekki Phase 1, a land parcel on Oyinkan Abayomi Drive in Ikoyi, and an industrial complex under construction in Agbor, Delta State, among others. The court noted that Emefiele had denied any connection to the companies registered as owners, which also failed to claim ownership in court.
Justice Dipeolu remarked, “The conclusion that can be deduced is that there must be something dark about the acquisition of the properties which Emefiele and the companies do not want to come to light.”
This ruling comes as part of an effort by the Economic and Financial Crimes Commission (EFCC) to confiscate assets suspected to be proceeds of crime. Emefiele’s counsel, Olalekan Ojo (SAN), had argued against the final forfeiture, requesting the court to delay proceedings, but his appeals were unsuccessful.
