The Federal High Court in Lagos, Nigeria has ordered the permanent forfeiture of properties valued at over N12.18 billion linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, to the Federal Government.
On Friday, Justice Chukwujekwu Aneke issued the final forfeiture order following a successful application by the Economic and Financial Crimes Commission (EFCC). EFCC counsel Chineye Okezie presented the application to the court, building on a previous motion upheld on June 5, 2024, for temporary forfeiture.
According to EFCC’s counsel, Rotimi Oyedepo, SAN, Emefiele is alleged to have acquired these high-value properties through proxies using proceeds from fraudulent activities during his tenure as CBN governor. The properties, mostly situated in upscale areas of the Federal Capital Territory (FCT), Abuja, are suspected to have been purchased with the illicit gains.
The EFCC’s investigation identified Obayemi Oluwaseun Teben, Akomolafe Adebayo, and Olubunmi Makinde, a former CBN staff, as Emefiele’s accomplices in the alleged fraud. These individuals, along with others, are believed to have facilitated the acquisition of the properties through questionable means.
Justice Aneke, in his ruling, stated: “Having carefully considered the application and submission of counsel, it is hereby ordered as follows: that a final forfeiture order of this honorable court is hereby made, forfeiting to the Federal Government of Nigeria, properties contained in Schedule A herein which were traced and reasonably suspected to have been acquired with proceeds of unlawful activities.”
This ruling marks a significant development in the EFCC’s ongoing efforts to recover assets acquired through alleged financial misconduct within the CBN. The properties, now forfeited, underscore the court’s commitment to addressing corruption and ensuring that assets derived from illicit activities are reclaimed for public benefit.
