The Federal High Court in Lagos has permanently forfeited properties valued at over N12.18 billion to the Federal Government. These properties are linked to Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN).
Justice Chukwujekwu Aneke issued the final forfeiture order after hearing a motion from the Economic and Financial Crimes Commission (EFCC), represented by counsel Chineye Okezie. The judge had previously granted an interim forfeiture order on June 5, 2024, based on a motion by EFCC’s Mr. Rotimi Oyedepo (SAN).
The EFCC suspects that Emefiele purchased these properties using proceeds from fraud. The agency also implicated two current and one former CBN staff as Emefiele’s accomplices: Obayemi Oluwaseun Teben, Akomolafe Adebayo, and former CBN staff Olubunmi Makinde.
The properties, mostly located in upscale areas of the Federal Capital Territory (FCT), Abuja, were detailed in two schedules presented by the EFCC. Justice Aneke ordered the EFCC to publish the forfeiture order in a national newspaper to allow any interested parties to contest the decision. When the court resumed on June 21, no parties appeared to challenge the interim order, and Okezie moved for permanent forfeiture.
After reviewing the EFCC’s evidence, including a 41-paragraph affidavit by Investigating Officer Michael John Idoko and 19 exhibits, Justice Aneke granted the final forfeiture. He declared: “Having carefully considered the application and submission of counsel, it is hereby ordered…that a final forfeiture order of this honourable 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.”
Schedule A includes shops and apartments in Maitama and Wuse. Schedule B includes lands and apartments worth N1.04 billion, allegedly acquired through kickbacks from foreign exchange deals facilitated by CBN staff.
The EFCC affidavit states that Teben and Adebayo, with Makinde’s help, used their positions at the CBN to secure foreign exchange allocations for companies in exchange for bribes. The court’s decision marks a significant step in the fight against corruption and the misuse of public office in Nigeria.