The Federal High Court in Lagos, Nigeria has ordered the interim forfeiture of a $2.04 million cash sum, as well as several properties and shares linked to the suspended former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
Presiding over the case, Justice Akintayo Aluko issued the orders on Thursday, following an application by the Economic and Financial Crimes Commission (EFCC). The application was filed and moved by the EFCC’s counsel, Rotimi Oyedepo, SAN, who was supported by Chineye Okezie and Zeenat Atiku-Bala.
The forfeited assets include seven landed properties located in highbrow areas of Lagos and Delta State, among them two duplexes in Lekki, a bungalow on Oyinkan Abayomi Drive, and an industrial complex under construction in Agbor. Additionally, shares linked to Queensdorf Global Fund Limited Trust were also ordered to be forfeited.
Oyedepo argued that the properties and funds in question are reasonably suspected to be proceeds of unlawful activities, and thus the forfeiture orders are in line with the Advance Fee Fraud and Other Fraud Related Offences Act No. 14, 2006, and the 1999 Constitution.
The EFCC’s investigation revealed that Emefiele and his associates allegedly used shell companies and intermediaries to acquire these assets with funds derived from illicit activities, including kickbacks from foreign exchange allocations. The properties were reportedly purchased and held in the names of different entities to conceal the unlawful origin of the funds.
Oyedepo, quoting an affidavit from Idi Musa, an EFCC investigator, stated: “The properties and funds traced to Emefiele and his cronies were acquired through fraudulent means and are now subject to interim forfeiture to the Federal Government of Nigeria.”
Justice Aluko, after reviewing the evidence and legal arguments presented by the EFCC, granted the interim forfeiture, marking another step in the ongoing investigation into the alleged fraudulent activities linked to the former CBN governor.
