The Federal High Court in Lagos, Nigeria has scheduled November 1, 2024, to deliver its ruling on the application by the Economic and Financial Crimes Commission (EFCC) for the final forfeiture of $2.045 million, seven properties, and shares allegedly tied to former Central Bank Governor, Godwin Emefiele.
During a hearing on Friday, EFCC counsel, Rotimi Oyedepo (SAN), moved the application for the final forfeiture, stating that no party had contested the claims. However, Olalekan Ojo, representing Emefiele, argued that the court should deny the application, asserting that his client had shown sufficient reason why the assets should not be forfeited.
Earlier, the court refused an application by Emefiele’s legal team to stay proceedings pending the outcome of an appeal challenging the temporary forfeiture order granted in August. Justice Deinde Dipeolu ruled that an appeal could only proceed after the trial court’s decision on the matter, and dismissed the request to halt proceedings.
The assets in question were placed under interim forfeiture in August after the court allowed the EFCC to take temporary custody and ordered the publication of the forfeiture notice to allow any interested parties to come forward.
The November ruling will determine whether the assets will be permanently forfeited to the Federal Government.
