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Court Orders Final Forfeiture Of Over ₦12.18 Billion Properties Linked To Emefiele




Naira Appreciates By 0.66% After Emefiele's Suspension
Former CBN Governor, Godwin Emefiele

The Federal High Court in Lagos has issued a final order for the forfeiture of properties worth ₦11.14 billion and an additional ₦1.04 billion linked to the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

Naija News reports that Justice Chukwujekwu Aneke issued the order after considering an application presented by the Economic and Financial Crimes Commission (EFCC), represented by its counsel, Chineye Okezie.

Previously, on June 5, 2024, the court granted a temporary forfeiture of the properties based on a motion filed by the EFCC, presented by the Senior Advocate of Nigeria, Rotimi Oyedepo.

Oyedepo informed the court that Emefiele was suspected of acquiring these properties through fraudulent means.

The EFCC also implicated two current and one former CBN staff as accomplices in the alleged fraud, namely Obayemi Oluwaseun Teben, Akomolafe Adebayo, and Olubunmi Makinde.

These properties are primarily situated in prestigious areas of the Federal Capital Territory (FCT), Abuja.

Justice Aneke mandated that the EFCC make the interim forfeiture order public in a national newspaper, allowing anyone with a stake in the matter to present arguments against the issuance of the final forfeiture decree.

Following this, the judge postponed the case further.

When the case was back in session on June 21, no one showed up to challenge the interim order, and Chineye Okezie then submitted her request for the permanent forfeiture.

After reviewing a 41-paragraph statement provided by an EFCC Investigator, Michael John Idoko, along with 41 exhibits, a signed Written Address from Okezie, and after listening to Okezie’s request, Justice Aneke approved the case.

The EFCC had detailed the properties in two lists, A and B.

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